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Strength of correlation (R squared): 0.886 (this correlation is strong)
Outliers:
Texas
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X Axis |
Y Axis |
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| Variable: |
Economy > GSP > Real GSP > Support activities for mining |
Economy > GSP > Nominal GSP > Oil and gas extraction |
| Plot Display: |
Logarithmic (base 10) |
Logarithmic (base 10) |
| Definition: |
Support activities for mining, 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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Oil and gas extraction, Nominal GSP (current 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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| 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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