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Strength of correlation (R squared): 0.889 (this correlation is strong)
Outliers:
New York
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X Axis |
Y Axis |
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| Variable: |
Economy > GSP > Real GSP > Management of companies and enterprises |
Economy > GSP > Compensation of Employees > Social assistance |
| Plot Display: |
Logarithmic (base 10) |
Logarithmic (base 10) |
| Definition: |
Management of companies and enterprises, 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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Social assistance, Compensation of Employees (current dollars) Compensation of Employees is a statisical term which refers to the total gross (pre-tax) wages paid by employers to employeesfor work done in an accounting period, such as a quarter or a year. It represents roughly the total labor cost to an employer.
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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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U.S. Department of Commerce, Bureau of Economic Analysis, Regional Economic Analysis Division. Data for 2003.
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| Correlations: |
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