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Strength of correlation (R squared): 0.715 (this correlation is significant)
Outliers:
California
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X Axis |
Y Axis |
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| Variable: |
Economy > GSP > Real GSP > Food product manufacturing |
Industry > Beverage & tobacco product manufacturing > Total cost of materials |
| Plot Display: |
Logarithmic (base 10) |
Linear |
| Definition: |
Food product manufacturing, Real GSP (chained 2000 dollars) GSP, or Gross State Product is the value of all the goods and services produced in a state. Specific industries measured will give the value of all goods and services in that industry. The Nominal Gross State Product measures the value of all the goods and services produced expressed in current prices. On the other hand, Real Gross State Product measures the value of all the goods and services produced expressed in the prices of some base year.
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This term refers to direct charges actually paid or payable for items consumed or put into production during the year, including freight charges and other direct charges incurred by the establishment in acquiring these materials. It includes the cost of materials or fuel consumed, whether purchased by the individual establishment from other companies, transferred to it from other establishments of the same company, or withdrawn from inventory during the year.
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| Source: |
U.S. Department of Commerce, Bureau of Economic Analysis, Regional Economic Analysis Division. Data for 2003.
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Annual Survey of Manufactures, 2004
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| Correlations: |
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