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Strength of correlation (R squared): 0.716 (this correlation is significant)
Outliers:
California
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X Axis |
Y Axis |
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| Variable: |
Industry > Food manufacturing > Total cost of materials |
Economy > GSP > Compensation of Employees > Food product manufacturing |
| Plot Display: |
Linear |
Logarithmic (base 10) |
| Definition: |
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the individual establishment from other companies, transferred to it from other establishments of the same company, or withdrawn from inventory during the year.
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Food product manufacturing, 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: |
Annual Survey of Manufactures, 2004
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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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