INVESTOR #1 ===================== EQUATIONS: EQ_B1 NOB 845 SBIC 942.844 LOGL -831.645 Standard Parameter Estimate Error t-statistic P-value C_1 -1.04456 .455128 -2.29509 [.022] A4_1 .139637 .106795 1.30753 [.191] A3_1 .275782 .141048 1.95523 [.051] A2_1 .326074 .119852 2.72064 [.007] P0_1 .206188 .093150 2.21351 [.027] P1_1 -.025343 .028855 -.878287 [.380] P2_1 .403405E-02 .028155 .143278 [.886] P3_1 .013864 .024909 .556598 [.578] P4_1 .016958 .023890 .709860 [.478] P5_1 .024165 .026896 .898445 [.369] P6_1 -.064436 .024278 -2.65410 [.008] P7_1 -.035256 .025892 -1.36164 [.173] P8_1 -.013876 .024417 -.568291 [.570] P9_1 .010886 .022781 .477868 [.633] P10_1 .023433 .023253 1.00774 [.314] P11_1 .130629E-02 .023365 .055908 [.955] P12_1 .069120 .024270 2.84793 [.004] P13_1 -.721369E-02 .023286 -.309781 [.757] P14_1 -.081806 .024021 -3.40560 [.001] P15_1 -.010935 .021635 -.505445 [.613] P16_1 .095667 .029300 3.26513 [.001] P17_1 .051400 .026659 1.92803 [.054] DI1_1 .139541 .047953 2.90994 [.004] DF1_1 -.276406E-02 .011039 -.250393 [.802] DI2_1 .032450 .066562 .487517 [.626] DF2_1 .567008E-02 .010296 .550712 [.582] DI3_1 .128366 .057395 2.23654 [.025] DF3_1 .429279E-03 .962620E-02 .044595 [.964] S1_1 -.274762 .100879 -2.72366 [.006] S2_1 .153895 .046353 3.32009 [.001] S3_1 .057410 .051803 1.10825 [.268] S4_1 .403223E-02 .036280 .111141 [.912] B_1 -.450010E-02 .045518 -.098865 [.921] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B1 Dependent variable: LPSE YMEAN 5.78277 S2 .436201 ARSQ .614675 SDEV 1.06397 S .660455 LMHET 8.80917 [.003] SSR 354.196 RSQ .629285 DW 1.91574 [<.635] INVESTOR #2 ===================== EQUATIONS: EQ_B2 NOB 845 SBIC 942.689 LOGL -831.490 Standard Parameter Estimate Error t-statistic P-value C_2 -.998260 .442920 -2.25382 [.024] A4_2 .139299 .106732 1.30513 [.192] A3_2 .268051 .141279 1.89732 [.058] A2_2 .331068 .120115 2.75625 [.006] P0_2 .200228 .093756 2.13562 [.033] P1_2 -.023344 .029070 -.803042 [.422] P2_2 .461560E-02 .028169 .163855 [.870] P3_2 .017052 .025545 .667554 [.504] P4_2 .016125 .023934 .673753 [.500] P5_2 .024747 .026892 .920229 [.357] P6_2 -.063831 .024299 -2.62689 [.009] P7_2 -.034711 .025870 -1.34176 [.180] P8_2 -.014036 .024403 -.575174 [.565] P9_2 .010581 .022771 .464661 [.642] P10_2 .022412 .023224 .965051 [.335] P11_2 .150078E-02 .023363 .064237 [.949] P12_2 .067437 .024362 2.76812 [.006] P13_2 -.738252E-02 .023280 -.317119 [.751] P14_2 -.081966 .024015 -3.41312 [.001] P15_2 -.010974 .021631 -.507302 [.612] P16_2 .095978 .029300 3.27573 [.001] P17_2 .051435 .026653 1.92981 [.054] DI1_2 .138822 .047936 2.89599 [.004] DF1_2 -.260890E-02 .011036 -.236394 [.813] DI2_2 .035329 .066658 .530013 [.596] DF2_2 .583472E-02 .010296 .566712 [.571] DI3_2 .124947 .057489 2.17340 [.030] DF3_2 .557101E-04 .961314E-02 .579520E-02 [.995] S1_2 -.270897 .101002 -2.68211 [.007] S2_2 .153872 .046294 3.32376 [.001] S3_2 .058040 .051738 1.12180 [.262] S4_2 .310201E-02 .035975 .086227 [.931] B_2 .807419E-02 .014577 .553893 [.580] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B2 Dependent variable: LPSE YMEAN 5.78277 S2 .436042 ARSQ .614816 SDEV 1.06397 S .660335 LMHET 8.79925 [.003] SSR 354.066 RSQ .629420 DW 1.91631 [<.638] INVESTOR #3 ===================== EQUATIONS: EQ_B3 NOB 845 SBIC 942.741 LOGL -831.542 Standard Parameter Estimate Error t-statistic P-value C_3 -1.01314 .440660 -2.29913 [.021] A4_3 .138227 .106766 1.29467 [.195] A3_3 .273885 .140763 1.94571 [.052] A2_3 .327616 .119849 2.73357 [.006] P0_3 .205775 .093079 2.21077 [.027] P1_3 -.025674 .028861 -.889572 [.374] P2_3 .362123E-02 .028167 .128562 [.898] P3_3 .014112 .024908 .566564 [.571] P4_3 .016904 .023884 .707755 [.479] P5_3 .024629 .026892 .915879 [.360] P6_3 -.064051 .024290 -2.63687 [.008] P7_3 -.035063 .025861 -1.35583 [.175] P8_3 -.013945 .024404 -.571403 [.568] P9_3 .010587 .022774 .464897 [.642] P10_3 .022291 .023271 .957895 [.338] P11_3 .150183E-02 .023366 .064274 [.949] P12_3 .068395 .024240 2.82158 [.005] P13_3 -.714470E-02 .023278 -.306928 [.759] P14_3 -.081893 .024016 -3.40998 [.001] P15_3 -.011073 .021635 -.511793 [.609] P16_3 .095490 .029298 3.25928 [.001] P17_3 .050737 .026698 1.90040 [.057] DI1_3 .139293 .047928 2.90631 [.004] DF1_3 -.268204E-02 .011035 -.243046 [.808] DI2_3 .032993 .066498 .496153 [.620] DF2_3 .582234E-02 .010297 .565431 [.572] DI3_3 .127859 .057236 2.23388 [.025] DF3_3 .171388E-03 .960694E-02 .017840 [.986] S1_3 -.275850 .100692 -2.73955 [.006] S2_3 .154080 .046304 3.32756 [.001] S3_3 .057064 .051753 1.10261 [.270] S4_3 .336336E-02 .035970 .093504 [.926] B_3 .433728E-02 .951367E-02 .455900 [.648] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B3 Dependent variable: LPSE YMEAN 5.78277 S2 .436095 ARSQ .614769 SDEV 1.06397 S .660375 LMHET 8.91544 [.003] SSR 354.109 RSQ .629375 DW 1.91483 [<.630] INVESTOR #4 ===================== EQUATIONS: EQ_B4 NOB 845 SBIC 942.849 LOGL -831.649 Standard Parameter Estimate Error t-statistic P-value C_4 -1.03417 .446803 -2.31460 [.021] A4_4 .139339 .106752 1.30526 [.192] A3_4 .274992 .140857 1.95229 [.051] A2_4 .326295 .119831 2.72297 [.006] P0_4 .206829 .094159 2.19659 [.028] P1_4 -.025392 .029074 -.873348 [.382] P2_4 .402022E-02 .028189 .142618 [.887] P3_4 .013814 .025296 .546103 [.585] P4_4 .017041 .023970 .710910 [.477] P5_4 .024220 .026934 .899248 [.369] P6_4 -.064483 .024326 -2.65077 [.008] P7_4 -.035151 .025879 -1.35831 [.174] P8_4 -.013935 .024415 -.570761 [.568] P9_4 .010829 .022777 .475450 [.634] P10_4 .023260 .023186 1.00321 [.316] P11_4 .130661E-02 .023365 .055922 [.955] P12_4 .069005 .024361 2.83254 [.005] P13_4 -.716089E-02 .023281 -.307579 [.758] P14_4 -.081846 .024019 -3.40755 [.001] P15_4 -.010925 .021635 -.504947 [.614] P16_4 .095653 .029300 3.26461 [.001] P17_4 .051431 .026658 1.92929 [.054] DI1_4 .139409 .047934 2.90834 [.004] DF1_4 -.273582E-02 .011037 -.247887 [.804] DI2_4 .032712 .066507 .491854 [.623] DF2_4 .568904E-02 .010294 .552638 [.581] DI3_4 .128042 .057436 2.22932 [.026] DF3_4 .359546E-03 .959966E-02 .037454 [.970] S1_4 -.275559 .101252 -2.72151 [.006] S2_4 .153682 .046302 3.31912 [.001] S3_4 .057583 .051888 1.10976 [.267] S4_4 .361068E-02 .036051 .100155 [.920] B_4 -.452006E-03 .023870 -.018936 [.985] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B4 Dependent variable: LPSE YMEAN 5.78277 S2 .436206 ARSQ .614671 SDEV 1.06397 S .660459 LMHET 8.79627 [.003] SSR 354.200 RSQ .629281 DW 1.91603 [<.637] INVESTOR #5 ===================== EQUATIONS: EQ_B5 NOB 845 SBIC 942.849 LOGL -831.650 Standard Parameter Estimate Error t-statistic P-value C_5 -1.03290 .439519 -2.35007 [.019] A4_5 .139290 .106817 1.30401 [.192] A3_5 .274943 .140817 1.95248 [.051] A2_5 .326284 .119841 2.72264 [.006] P0_5 .206633 .093270 2.21544 [.027] P1_5 -.025328 .028856 -.877743 [.380] P2_5 .401249E-02 .028291 .141830 [.887] P3_5 .013988 .025976 .538503 [.590] P4_5 .017038 .024062 .708096 [.479] P5_5 .024272 .026935 .901137 [.368] P6_5 -.064462 .024286 -2.65426 [.008] P7_5 -.035155 .025919 -1.35636 [.175] P8_5 -.013948 .024407 -.571481 [.568] P9_5 .010829 .022784 .475281 [.635] P10_5 .023253 .023181 1.00312 [.316] P11_5 .130249E-02 .023368 .055739 [.956] P12_5 .068969 .024242 2.84500 [.004] P13_5 -.716552E-02 .023282 -.307776 [.758] P14_5 -.081843 .024018 -3.40751 [.001] P15_5 -.010922 .021635 -.504827 [.614] P16_5 .095664 .029308 3.26405 [.001] P17_5 .051421 .026667 1.92828 [.054] DI1_5 .139425 .047966 2.90677 [.004] DF1_5 -.274087E-02 .011038 -.248313 [.804] DI2_5 .032731 .066506 .492150 [.623] DF2_5 .568414E-02 .010300 .551837 [.581] DI3_5 .127943 .057250 2.23482 [.025] DF3_5 .362079E-03 .960451E-02 .037699 [.970] S1_5 -.275410 .100786 -2.73263 [.006] S2_5 .153677 .046302 3.31898 [.001] S3_5 .057660 .051744 1.11433 [.265] S4_5 .356572E-02 .035972 .099124 [.921] B_5 -.137776E-03 .011297 -.012196 [.990] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B5 Dependent variable: LPSE YMEAN 5.78277 S2 .436207 ARSQ .614671 SDEV 1.06397 S .660459 LMHET 8.79478 [.003] SSR 354.200 RSQ .629280 DW 1.91603 [<.637] INVESTOR #6 ===================== EQUATIONS: EQ_B6 NOB 845 SBIC 941.879 LOGL -830.680 Standard Parameter Estimate Error t-statistic P-value C_6 -.929805 .444563 -2.09150 [.036] A4_6 .148550 .106843 1.39036 [.164] A3_6 .256969 .141214 1.81972 [.069] A2_6 .327570 .119696 2.73669 [.006] P0_6 .203184 .093001 2.18476 [.029] P1_6 -.024216 .028833 -.839869 [.401] P2_6 .563479E-02 .028147 .200191 [.841] P3_6 .012548 .024898 .503971 [.614] P4_6 .021027 .024040 .874700 [.382] P5_6 .025575 .026869 .951830 [.341] P6_6 -.066280 .024286 -2.72907 [.006] P7_6 -.034201 .025843 -1.32344 [.186] P8_6 -.014121 .024379 -.579228 [.562] P9_6 .987368E-02 .022755 .433904 [.664] P10_6 .023190 .023152 1.00165 [.317] P11_6 .105895E-02 .023339 .045373 [.964] P12_6 .064508 .024403 2.64348 [.008] P13_6 -.631020E-02 .023263 -.271258 [.786] P14_6 -.082004 .023991 -3.41808 [.001] P15_6 -.010587 .021612 -.489887 [.624] P16_6 .095061 .029269 3.24781 [.001] P17_6 .050401 .026638 1.89207 [.058] DI1_6 .138156 .047887 2.88504 [.004] DF1_6 -.247539E-02 .011025 -.224528 [.822] DI2_6 .035860 .066468 .539512 [.590] DF2_6 .574802E-02 .010283 .559005 [.576] DI3_6 .122028 .057342 2.12808 [.033] DF3_6 -.610634E-03 .961463E-02 -.063511 [.949] S1_6 -.276384 .100586 -2.74773 [.006] S2_6 .149827 .046335 3.23358 [.001] S3_6 .064536 .051929 1.24277 [.214] S4_6 .129353E-02 .035969 .035962 [.971] B_6 .037298 .027313 1.36560 [.172] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B6 Dependent variable: LPSE YMEAN 5.78277 S2 .435207 ARSQ .615554 SDEV 1.06397 S .659702 LMHET 8.62210 [.003] SSR 353.388 RSQ .630130 DW 1.91782 [<.646] INVESTOR #7 ===================== EQUATIONS: EQ_B7 NOB 845 SBIC 942.066 LOGL -830.867 Standard Parameter Estimate Error t-statistic P-value C_7 -1.15418 .449313 -2.56877 [.010] A4_7 .138353 .106656 1.29719 [.195] A3_7 .284327 .140843 2.01874 [.044] A2_7 .325646 .119720 2.72007 [.007] P0_7 .210764 .093051 2.26503 [.024] P1_7 -.028670 .028956 -.990110 [.322] P2_7 .392125E-02 .028129 .139400 [.889] P3_7 .011603 .024954 .464984 [.642] P4_7 .017315 .023865 .725551 [.468] P5_7 .023143 .026873 .861197 [.389] P6_7 -.066275 .024300 -2.72733 [.006] P7_7 -.035992 .025849 -1.39241 [.164] P8_7 -.012906 .024399 -.528970 [.597] P9_7 .012345 .022784 .541817 [.588] P10_7 .023474 .023158 1.01365 [.311] P11_7 .155872E-02 .023344 .066771 [.947] P12_7 .072827 .024395 2.98534 [.003] P13_7 -.660680E-02 .023264 -.283994 [.776] P14_7 -.081531 .023997 -3.39748 [.001] P15_7 -.011289 .021617 -.522203 [.602] P16_7 .095327 .029274 3.25641 [.001] P17_7 .051688 .026634 1.94067 [.052] DI1_7 .140421 .047896 2.93178 [.003] DF1_7 -.260131E-02 .011026 -.235921 [.813] DI2_7 .031472 .066450 .473612 [.636] DF2_7 .553101E-02 .010286 .537746 [.591] DI3_7 .134269 .057421 2.33831 [.019] DF3_7 .470608E-03 .959097E-02 .049068 [.961] S1_7 -.275849 .100606 -2.74186 [.006] S2_7 .154632 .046266 3.34228 [.001] S3_7 .053997 .051781 1.04279 [.297] S4_7 .646977E-02 .036017 .179632 [.857] B_7 -.037439 .030510 -1.22710 [.220] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B7 Dependent variable: LPSE YMEAN 5.78277 S2 .435399 ARSQ .615384 SDEV 1.06397 S .659848 LMHET 9.17707 [.002] SSR 353.544 RSQ .629967 DW 1.91238 [<.617] INVESTOR #8 ===================== EQUATIONS: EQ_B8 NOB 845 SBIC 942.394 LOGL -831.195 Standard Parameter Estimate Error t-statistic P-value C_8 -.990282 .440742 -2.24685 [.025] A4_8 .144738 .106851 1.35458 [.176] A3_8 .271036 .140749 1.92568 [.054] A2_8 .322541 .119833 2.69159 [.007] P0_8 .206837 .093025 2.22346 [.026] P1_8 -.025448 .028839 -.882403 [.378] P2_8 .443431E-02 .028143 .157562 [.875] P3_8 .013269 .024902 .532830 [.594] P4_8 .017940 .023894 .750812 [.453] P5_8 .024776 .026874 .921929 [.357] P6_8 -.064816 .024267 -2.67089 [.008] P7_8 -.034162 .025870 -1.32051 [.187] P8_8 -.014853 .024413 -.608407 [.543] P9_8 .010338 .022765 .454142 [.650] P10_8 .022911 .023169 .988858 [.323] P11_8 .185013E-02 .023360 .079202 [.937] P12_8 .068682 .024201 2.83799 [.005] P13_8 -.764518E-02 .023274 -.328483 [.743] P14_8 -.081392 .024010 -3.38986 [.001] P15_8 -.010818 .021624 -.500304 [.617] P16_8 .095467 .029284 3.25999 [.001] P17_8 .051623 .026644 1.93749 [.053] DI1_8 .138788 .047912 2.89672 [.004] DF1_8 -.274474E-02 .011030 -.248845 [.803] DI2_8 .031355 .066484 .471616 [.637] DF2_8 .569054E-02 .010289 .553084 [.580] DI3_8 .128887 .057221 2.25244 [.024] DF3_8 -.107108E-03 .960716E-02 -.011149 [.991] S1_8 -.276440 .100651 -2.74651 [.006] S2_8 .151063 .046362 3.25836 [.001] S3_8 .059415 .051750 1.14813 [.251] S4_8 .310137E-02 .035956 .086254 [.931] B_8 .022820 .024407 .934989 [.350] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B8 Dependent variable: LPSE YMEAN 5.78277 S2 .435737 ARSQ .615085 SDEV 1.06397 S .660104 LMHET 8.98910 [.003] SSR 353.819 RSQ .629679 DW 1.91862 [<.651] INVESTOR #9 ===================== EQUATIONS: EQ_B9 NOB 845 SBIC 942.756 LOGL -831.557 Standard Parameter Estimate Error t-statistic P-value C_9 -1.04639 .439823 -2.37910 [.017] A4_9 .138663 .106752 1.29892 [.194] A3_9 .275623 .140759 1.95812 [.050] A2_9 .325434 .119834 2.71570 [.007] P0_9 .210109 .093443 2.24853 [.025] P1_9 -.025703 .028865 -.890445 [.373] P2_9 .281361E-02 .028303 .099410 [.921] P3_9 .017184 .026091 .658630 [.510] P4_9 .018172 .024043 .755798 [.450] P5_9 .024906 .026924 .925040 [.355] P6_9 -.064821 .024290 -2.66859 [.008] P7_9 -.035867 .025919 -1.38384 [.166] P8_9 -.014015 .024405 -.574258 [.566] P9_9 .011257 .022792 .493917 [.621] P10_9 .023276 .023176 1.00432 [.315] P11_9 .104590E-02 .023371 .044753 [.964] P12_9 .069388 .024231 2.86356 [.004] P13_9 -.728315E-02 .023280 -.312848 [.754] P14_9 -.081759 .024017 -3.40428 [.001] P15_9 -.010897 .021633 -.503742 [.614] P16_9 .095893 .029302 3.27260 [.001] P17_9 .051062 .026669 1.91466 [.056] DI1_9 .139999 .047949 2.91976 [.004] DF1_9 -.280470E-02 .011036 -.254146 [.799] DI2_9 .033137 .066504 .498266 [.618] DF2_9 .549062E-02 .010304 .532872 [.594] DI3_9 .127365 .057254 2.22457 [.026] DF3_9 .479467E-03 .960266E-02 .049931 [.960] S1_9 -.277985 .100880 -2.75561 [.006] S2_9 .153641 .046297 3.31860 [.001] S3_9 .057832 .051739 1.11775 [.264] S4_9 .373809E-02 .035971 .103921 [.917] B_9 -.593348E-02 .014050 -.422321 [.673] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B9 Dependent variable: LPSE YMEAN 5.78277 S2 .436111 ARSQ .614755 SDEV 1.06397 S .660387 LMHET 8.76600 [.003] SSR 354.122 RSQ .629362 DW 1.91575 [<.635] INVESTOR #10 ====================== EQUATIONS: EQ_B10 NOB 845 SBIC 942.263 LOGL -831.064 Standard Parameter Estimate Error t-statistic P-value C_10 -.969451 .442364 -2.19152 [.028] A4_10 .141524 .106698 1.32640 [.185] A3_10 .266955 .140865 1.89511 [.058] A2_10 .330092 .119800 2.75536 [.006] P0_10 .200291 .093197 2.14911 [.032] P1_10 -.022249 .028980 -.767734 [.443] P2_10 .556605E-02 .028172 .197572 [.843] P3_10 .017156 .025078 .684128 [.494] P4_10 .016422 .023875 .687831 [.492] P5_10 .024908 .026871 .926949 [.354] P6_10 -.064208 .024262 -2.64647 [.008] P7_10 -.034312 .025857 -1.32701 [.185] P8_10 -.013989 .024390 -.573554 [.566] P9_10 .010451 .022758 .459206 [.646] P10_10 .024099 .023176 1.03983 [.298] P11_10 .381906E-03 .023365 .016345 [.987] P12_10 .065019 .024478 2.65626 [.008] P13_10 -.752339E-02 .023267 -.323345 [.746] P14_10 -.082040 .024002 -3.41800 [.001] P15_10 -.010507 .021624 -.485912 [.627] P16_10 .095302 .029281 3.25471 [.001] P17_10 .052054 .026646 1.95354 [.051] DI1_10 .136989 .047954 2.85665 [.004] DF1_10 -.285832E-02 .011029 -.259169 [.796] DI2_10 .034140 .066471 .513609 [.608] DF2_10 .556923E-02 .010288 .541344 [.588] DI3_10 .123796 .057337 2.15908 [.031] DF3_10 -.667194E-04 .960113E-02 -.694912E-02 [.994] S1_10 -.271445 .100697 -2.69567 [.007] S2_10 .154282 .046273 3.33416 [.001] S3_10 .061564 .051838 1.18761 [.235] S4_10 .834192E-03 .036039 .023147 [.982] B_10 .037363 .035209 1.06118 [.289] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B10 Dependent variable: LPSE YMEAN 5.78277 S2 .435603 ARSQ .615204 SDEV 1.06397 S .660002 LMHET 8.48144 [.004] SSR 353.709 RSQ .629794 DW 1.91335 [<.622] INVESTOR #11 ====================== EQUATIONS: EQ_B11 NOB 845 SBIC 941.455 LOGL -830.256 Standard Parameter Estimate Error t-statistic P-value C_11 -.970079 .439587 -2.20679 [.027] A4_11 .154249 .106964 1.44207 [.149] A3_11 .259562 .140843 1.84291 [.065] A2_11 .322496 .119655 2.69522 [.007] P0_11 .207820 .092924 2.23644 [.025] P1_11 -.023524 .028828 -.816015 [.414] P2_11 .446292E-02 .028110 .158766 [.874] P3_11 .013212 .024869 .531283 [.595] P4_11 .020444 .023939 .854034 [.393] P5_11 .025167 .026844 .937547 [.348] P6_11 -.066236 .024262 -2.73005 [.006] P7_11 -.034243 .025826 -1.32587 [.185] P8_11 -.014222 .024367 -.583657 [.559] P9_11 .013126 .022777 .576277 [.564] P10_11 .022405 .023146 .967991 [.333] P11_11 .225474E-02 .023334 .096630 [.923] P12_11 .068898 .024172 2.85029 [.004] P13_11 -.604021E-02 .023253 -.259763 [.795] P14_11 -.081848 .023979 -3.41337 [.001] P15_11 -.011190 .021600 -.518041 [.604] P16_11 .095575 .029251 3.26739 [.001] P17_11 .051141 .026615 1.92153 [.055] DI1_11 .137338 .047871 2.86892 [.004] DF1_11 -.233407E-02 .011020 -.211795 [.832] DI2_11 .033503 .066396 .504595 [.614] DF2_11 .568094E-02 .010277 .552764 [.580] DI3_11 .126674 .057154 2.21635 [.027] DF3_11 -.158172E-03 .958879E-02 -.016495 [.987] S1_11 -.278668 .100553 -2.77135 [.006] S2_11 .150388 .046269 3.25027 [.001] S3_11 .061771 .051719 1.19435 [.232] S4_11 .217054E-02 .035923 .060422 [.952] B_11 .029301 .017890 1.63782 [.101] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B11 Dependent variable: LPSE YMEAN 5.78277 S2 .434770 ARSQ .615939 SDEV 1.06397 S .659371 LMHET 9.11266 [.003] SSR 353.034 RSQ .630501 DW 1.91244 [<.617] INVESTOR #12 ====================== EQUATIONS: EQ_B12 NOB 845 SBIC 942.676 LOGL -831.477 Standard Parameter Estimate Error t-statistic P-value C_12 -1.02106 .439016 -2.32579 [.020] A4_12 .142178 .106844 1.33070 [.183] A3_12 .272007 .140824 1.93154 [.053] A2_12 .325594 .119812 2.71755 [.007] P0_12 .209223 .093170 2.24560 [.025] P1_12 -.025154 .028850 -.871899 [.383] P2_12 .347930E-02 .028167 .123525 [.902] P3_12 .014200 .024907 .570130 [.569] P4_12 .017076 .023881 .715043 [.475] P5_12 .024835 .026896 .923383 [.356] P6_12 -.065715 .024371 -2.69644 [.007] P7_12 -.035252 .025859 -1.36325 [.173] P8_12 -.013543 .024412 -.554750 [.579] P9_12 .010599 .022770 .465504 [.642] P10_12 .023026 .023177 .993483 [.320] P11_12 .467347E-03 .023406 .019967 [.984] P12_12 .069360 .024218 2.86403 [.004] P13_12 -.689378E-02 .023281 -.296112 [.767] P14_12 -.081895 .024014 -3.41035 [.001] P15_12 -.010849 .021631 -.501529 [.616] P16_12 .095560 .029294 3.26209 [.001] P17_12 .051355 .026653 1.92682 [.054] DI1_12 .139141 .047926 2.90326 [.004] DF1_12 -.276190E-02 .011034 -.250315 [.802] DI2_12 .032340 .066494 .486357 [.627] DF2_12 .559220E-02 .010294 .543272 [.587] DI3_12 .127330 .057242 2.22443 [.026] DF3_12 .279690E-03 .959843E-02 .029139 [.977] S1_12 -.277915 .100776 -2.75775 [.006] S2_12 .152987 .046308 3.30368 [.001] S3_12 .059181 .051800 1.14249 [.253] S4_12 .289233E-02 .035984 .080379 [.936] B_12 .789060E-02 .013696 .576121 [.565] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B12 Dependent variable: LPSE YMEAN 5.78277 S2 .436028 ARSQ .614828 SDEV 1.06397 S .660324 LMHET 8.84874 [.003] SSR 354.055 RSQ .629432 DW 1.91713 [<.643] INVESTOR #13 ====================== EQUATIONS: EQ_B13 NOB 845 SBIC 942.470 LOGL -831.271 Standard Parameter Estimate Error t-statistic P-value C_13 -.996936 .440437 -2.26352 [.024] A4_13 .140508 .106713 1.31669 [.188] A3_13 .275509 .140703 1.95809 [.050] A2_13 .323080 .119836 2.69603 [.007] P0_13 .208238 .093054 2.23783 [.025] P1_13 -.026224 .028861 -.908653 [.364] P2_13 .473382E-02 .028154 .168139 [.866] P3_13 .014655 .024911 .588307 [.556] P4_13 .019447 .024046 .808731 [.419] P5_13 .023155 .026901 .860743 [.389] P6_13 -.065474 .024296 -2.69484 [.007] P7_13 -.036243 .025884 -1.40019 [.161] P8_13 -.014112 .024397 -.578443 [.563] P9_13 .011741 .022786 .515257 [.606] P10_13 .023259 .023168 1.00394 [.315] P11_13 .101540E-02 .023357 .043473 [.965] P12_13 .068423 .024209 2.82631 [.005] P13_13 -.684701E-02 .023274 -.294197 [.769] P14_13 -.082065 .024009 -3.41809 [.001] P15_13 -.011005 .021626 -.508866 [.611] P16_13 .095472 .029287 3.25984 [.001] P17_13 .049390 .026753 1.84618 [.065] DI1_13 .139196 .047912 2.90521 [.004] DF1_13 -.259109E-02 .011032 -.234865 [.814] DI2_13 .030492 .066526 .458342 [.647] DF2_13 .564762E-02 .010290 .548857 [.583] DI3_13 .128529 .057221 2.24617 [.025] DF3_13 .272941E-04 .960295E-02 .284227E-02 [.998] S1_13 -.278624 .100726 -2.76615 [.006] S2_13 .153256 .046284 3.31123 [.001] S3_13 .059953 .051790 1.15763 [.247] S4_13 .205736E-02 .035999 .057150 [.954] B_13 .023629 .027681 .853606 [.393] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B13 Dependent variable: LPSE YMEAN 5.78277 S2 .435816 ARSQ .615016 SDEV 1.06397 S .660163 LMHET 9.04907 [.003] SSR 353.882 RSQ .629613 DW 1.91526 [<.633] INVESTOR #14 ====================== EQUATIONS: EQ_B14 NOB 845 SBIC 942.225 LOGL -831.026 Standard Parameter Estimate Error t-statistic P-value C_14 -1.08953 .441401 -2.46835 [.014] A4_14 .138835 .106674 1.30149 [.193] A3_14 .276712 .140670 1.96711 [.049] A2_14 .329063 .119768 2.74751 [.006] P0_14 .208822 .093029 2.24470 [.025] P1_14 -.025557 .028834 -.886337 [.375] P2_14 .421115E-02 .028135 .149677 [.881] P3_14 .010911 .025037 .435803 [.663] P4_14 .017587 .023874 .736667 [.461] P5_14 .022509 .026909 .836467 [.403] P6_14 -.062253 .024343 -2.55737 [.011] P7_14 -.034763 .025846 -1.34497 [.179] P8_14 -.013830 .024389 -.567052 [.571] P9_14 .944855E-02 .022789 .414618 [.678] P10_14 .022871 .023164 .987354 [.323] P11_14 .170318E-02 .023351 .072939 [.942] P12_14 .073269 .024513 2.98900 [.003] P13_14 -.583482E-02 .023295 -.250471 [.802] P14_14 -.080793 .024020 -3.36361 [.001] P15_14 -.011109 .021620 -.513831 [.607] P16_14 .096057 .029280 3.28062 [.001] P17_14 .050638 .026648 1.90026 [.057] DI1_14 .141542 .047938 2.95263 [.003] DF1_14 -.252984E-02 .011029 -.229374 [.819] DI2_14 .031180 .066470 .469081 [.639] DF2_14 .610135E-02 .010294 .592733 [.553] DI3_14 .131994 .057320 2.30278 [.021] DF3_14 .652651E-03 .959610E-02 .068012 [.946] S1_14 -.276399 .100629 -2.74672 [.006] S2_14 .153201 .046270 3.31103 [.001] S3_14 .053599 .051838 1.03399 [.301] S4_14 .668191E-02 .036058 .185310 [.853] B_14 -.045773 .041777 -1.09564 [.273] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B14 Dependent variable: LPSE YMEAN 5.78277 S2 .435563 ARSQ .615240 SDEV 1.06397 S .659972 LMHET 9.05916 [.003] SSR 353.677 RSQ .629828 DW 1.91331 [<.622] INVESTOR #15 ====================== EQUATIONS: EQ_B15 NOB 845 SBIC 942.523 LOGL -831.324 Standard Parameter Estimate Error t-statistic P-value C_15 -1.00080 .440317 -2.27291 [.023] A4_15 .143952 .106870 1.34697 [.178] A3_15 .269280 .140889 1.91129 [.056] A2_15 .324932 .119796 2.71238 [.007] P0_15 .208928 .093087 2.24444 [.025] P1_15 -.025359 .028843 -.879198 [.379] P2_15 .416937E-02 .028145 .148139 [.882] P3_15 .014510 .024909 .582542 [.560] P4_15 .017853 .023901 .746958 [.455] P5_15 .024814 .026881 .923108 [.356] P6_15 -.063529 .024296 -2.61479 [.009] P7_15 -.035225 .025854 -1.36249 [.173] P8_15 -.013117 .024420 -.537150 [.591] P9_15 .010779 .022762 .473529 [.636] P10_15 .024362 .023212 1.04954 [.294] P11_15 .183691E-02 .023366 .078616 [.937] P12_15 .069731 .024223 2.87871 [.004] P13_15 -.640846E-02 .023292 -.275140 [.783] P14_15 -.082067 .024011 -3.41793 [.001] P15_15 -.010882 .021627 -.503174 [.615] P16_15 .095528 .029289 3.26161 [.001] P17_15 .051112 .026651 1.91786 [.055] DI1_15 .139217 .047915 2.90546 [.004] DF1_15 -.271577E-02 .011032 -.246181 [.806] DI2_15 .031652 .066492 .476030 [.634] DF2_15 .577475E-02 .010291 .561151 [.575] DI3_15 .127119 .057231 2.22117 [.026] DF3_15 .172794E-04 .960541E-02 .179892E-02 [.999] S1_15 -.278369 .100732 -2.76346 [.006] S2_15 .152138 .046325 3.28415 [.001] S3_15 .060058 .051812 1.15915 [.246] S4_15 .297998E-02 .035966 .082856 [.934] B_15 .012858 .016257 .790947 [.429] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B15 Dependent variable: LPSE YMEAN 5.78277 S2 .435871 ARSQ .614967 SDEV 1.06397 S .660205 LMHET 8.70056 [.003] SSR 353.927 RSQ .629566 DW 1.91599 [<.637] INVESTOR #16 ====================== EQUATIONS: EQ_B16 NOB 845 SBIC 942.650 LOGL -831.451 Standard Parameter Estimate Error t-statistic P-value C_16 -.994407 .442882 -2.24531 [.025] A4_16 .138538 .106735 1.29797 [.194] A3_16 .271951 .140812 1.93131 [.053] A2_16 .326812 .119804 2.72788 [.006] P0_16 .209254 .093155 2.24630 [.025] P1_16 -.025552 .028850 -.885696 [.376] P2_16 .163154E-02 .028419 .057410 [.954] P3_16 .014055 .024902 .564408 [.572] P4_16 .016686 .023886 .698583 [.485] P5_16 .025096 .026911 .932552 [.351] P6_16 -.064183 .024276 -2.64393 [.008] P7_16 -.035129 .025857 -1.35857 [.174] P8_16 -.013534 .024411 -.554437 [.579] P9_16 .010789 .022766 .473899 [.636] P10_16 .023039 .023176 .994117 [.320] P11_16 .130456E-02 .023360 .055847 [.955] P12_16 .066024 .024667 2.67658 [.007] P13_16 -.729565E-02 .023277 -.313434 [.754] P14_16 -.082636 .024047 -3.43641 [.001] P15_16 -.011543 .021653 -.533098 [.594] P16_16 .094647 .029338 3.22609 [.001] P17_16 .048656 .027028 1.80022 [.072] DI1_16 .138933 .047928 2.89877 [.004] DF1_16 -.249118E-02 .011041 -.225640 [.821] DI2_16 .034356 .066541 .516316 [.606] DF2_16 .571149E-02 .010292 .554948 [.579] DI3_16 .126273 .057294 2.20393 [.028] DF3_16 .365024E-03 .959718E-02 .038035 [.970] S1_16 -.279666 .100917 -2.77126 [.006] S2_16 .153681 .046291 3.31990 [.001] S3_16 .055161 .051889 1.06305 [.288] S4_16 .521768E-02 .036063 .144682 [.885] B_16 .436022E-02 .706254E-02 .617373 [.537] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B16 Dependent variable: LPSE YMEAN 5.78277 S2 .436002 ARSQ .614851 SDEV 1.06397 S .660304 LMHET 8.95316 [.003] SSR 354.034 RSQ .629454 DW 1.91327 [<.622] INVESTOR #17 ====================== EQUATIONS: EQ_B17 NOB 845 SBIC 940.834 LOGL -829.635 Standard Parameter Estimate Error t-statistic P-value C_17 -.921013 .441255 -2.08726 [.037] A4_17 .127836 .106657 1.19857 [.231] A3_17 .299917 .141002 2.12705 [.033] A2_17 .303661 .120096 2.52849 [.011] P0_17 .221007 .093142 2.37279 [.018] P1_17 -.025008 .028786 -.868751 [.385] P2_17 .240058E-02 .028101 .085428 [.932] P3_17 .012937 .024852 .520566 [.603] P4_17 .016344 .023831 .685841 [.493] P5_17 .022898 .026827 .853536 [.393] P6_17 -.065593 .024227 -2.70749 [.007] P7_17 -.035335 .025802 -1.36946 [.171] P8_17 -.013464 .024350 -.552940 [.580] P9_17 .010174 .022719 .447810 [.654] P10_17 .023803 .023125 1.02931 [.303] P11_17 -.248794E-02 .023389 -.106373 [.915] P12_17 .068900 .024155 2.85245 [.004] P13_17 -.547949E-02 .023241 -.235765 [.814] P14_17 -.082503 .023964 -3.44285 [.001] P15_17 -.010500 .021585 -.486446 [.627] P16_17 .095847 .029230 3.27906 [.001] P17_17 .051749 .026595 1.94583 [.052] DI1_17 .142756 .047849 2.98345 [.003] DF1_17 -.419489E-02 .011034 -.380166 [.704] DI2_17 .026432 .066423 .397933 [.691] DF2_17 .440166E-02 .010291 .427739 [.669] DI3_17 .134268 .057197 2.34748 [.019] DF3_17 .162764E-03 .957708E-02 .016995 [.986] S1_17 -.294922 .100949 -2.92150 [.003] S2_17 .153238 .046192 3.31739 [.001] S3_17 .061329 .051654 1.18730 [.235] S4_17 -.340555E-02 .036061 -.094440 [.925] B_17 .084702 .042995 1.97005 [.049] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B17 Dependent variable: LPSE YMEAN 5.78277 S2 .434132 ARSQ .616504 SDEV 1.06397 S .658887 LMHET 8.35354 [.004] SSR 352.515 RSQ .631044 DW 1.92463 [<.683] INVESTOR #18 ====================== EQUATIONS: EQ_B18 NOB 845 SBIC 941.689 LOGL -830.490 Standard Parameter Estimate Error t-statistic P-value C_18 -1.02928 .438056 -2.34965 [.019] A4_18 .140779 .106610 1.32050 [.187] A3_18 .275420 .140571 1.95929 [.050] A2_18 .320980 .119718 2.68112 [.007] P0_18 .202216 .092992 2.17455 [.030] P1_18 -.024608 .028819 -.853877 [.393] P2_18 .294358E-02 .028126 .104656 [.917] P3_18 .013725 .024873 .551814 [.581] P4_18 .016527 .023855 .692829 [.488] P5_18 .029365 .027063 1.08506 [.278] P6_18 -.064236 .024245 -2.64950 [.008] P7_18 -.034619 .025830 -1.34027 [.180] P8_18 -.013792 .024374 -.565838 [.572] P9_18 .010856 .022740 .477393 [.633] P10_18 .022880 .023148 .988409 [.323] P11_18 .101527E-02 .023334 .043511 [.965] P12_18 .068081 .024186 2.81490 [.005] P13_18 -.699711E-02 .023249 -.300959 [.763] P14_18 -.081953 .023986 -3.41675 [.001] P15_18 -.011008 .021606 -.509500 [.610] P16_18 .094659 .029267 3.23432 [.001] P17_18 .051379 .026621 1.92998 [.054] DI1_18 .140283 .047871 2.93043 [.003] DF1_18 -.261026E-02 .011021 -.236843 [.813] DI2_18 .032581 .066413 .490582 [.624] DF2_18 .532608E-02 .010283 .517948 [.604] DI3_18 .125849 .057182 2.20086 [.028] DF3_18 .862981E-03 .959221E-02 .089967 [.928] S1_18 -.271058 .100602 -2.69436 [.007] S2_18 .153705 .046238 3.32419 [.001] S3_18 .059566 .051688 1.15241 [.249] S4_18 .368886E-02 .035923 .102688 [.918] B_18 -.998128E-02 .668103E-02 -1.49397 [.135] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B18 Dependent variable: LPSE YMEAN 5.78277 S2 .435011 ARSQ .615727 SDEV 1.06397 S .659554 LMHET 8.60791 [.003] SSR 353.229 RSQ .630297 DW 1.92008 [<.659] INVESTOR #19 ====================== EQUATIONS: EQ_B19 NOB 845 SBIC 942.477 LOGL -831.278 Standard Parameter Estimate Error t-statistic P-value C_19 -1.02110 .438669 -2.32771 [.020] A4_19 .138248 .106713 1.29551 [.195] A3_19 .271914 .140746 1.93194 [.053] A2_19 .328419 .119803 2.74132 [.006] P0_19 .207133 .093036 2.22637 [.026] P1_19 -.025311 .028842 -.877570 [.380] P2_19 .414033E-02 .028143 .147117 [.883] P3_19 .014378 .024902 .577388 [.564] P4_19 .016785 .023877 .702992 [.482] P5_19 .024987 .026884 .929423 [.353] P6_19 -.065293 .024287 -2.68839 [.007] P7_19 -.035084 .025852 -1.35709 [.175] P8_19 -.013009 .024422 -.532681 [.594] P9_19 .010730 .022761 .471435 [.637] P10_19 .023828 .023179 1.02801 [.304] P11_19 .157164E-02 .023357 .067288 [.946] P12_19 .069041 .024202 2.85274 [.004] P13_19 -.743891E-02 .023273 -.319636 [.749] P14_19 -.081843 .024008 -3.40901 [.001] P15_19 -.010928 .021626 -.505339 [.613] P16_19 .095806 .029287 3.27127 [.001] P17_19 .052231 .026663 1.95892 [.050] DI1_19 .139268 .047913 2.90671 [.004] DF1_19 -.271466E-02 .011031 -.246093 [.806] DI2_19 .034418 .066505 .517520 [.605] DF2_19 .568065E-02 .010290 .552067 [.581] DI3_19 .126577 .057241 2.21129 [.027] DF3_19 .803967E-04 .960084E-02 .837393E-02 [.993] S1_19 -.276031 .100658 -2.74227 [.006] S2_19 .153679 .046282 3.32052 [.001] S3_19 .058245 .051725 1.12605 [.260] S4_19 .233163E-02 .035986 .064793 [.948] B_19 .950985E-02 .011256 .844899 [.398] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B19 Dependent variable: LPSE YMEAN 5.78277 S2 .435823 ARSQ .615009 SDEV 1.06397 S .660169 LMHET 8.60951 [.003] SSR 353.889 RSQ .629606 DW 1.91181 [<.614] INVESTOR #20 ====================== EQUATIONS: EQ_B20 NOB 845 SBIC 942.304 LOGL -831.105 Standard Parameter Estimate Error t-statistic P-value C_20 -.978043 .441594 -2.21480 [.027] A4_20 .143498 .106761 1.34411 [.179] A3_20 .268540 .140810 1.90711 [.057] A2_20 .323658 .119780 2.70209 [.007] P0_20 .208137 .093027 2.23738 [.025] P1_20 -.026406 .028855 -.915109 [.360] P2_20 .562531E-02 .028179 .199625 [.842] P3_20 .015586 .024945 .624812 [.532] P4_20 .017853 .023885 .747480 [.455] P5_20 .023969 .026866 .892165 [.372] P6_20 -.065554 .024286 -2.69931 [.007] P7_20 -.035390 .025848 -1.36916 [.171] P8_20 -.012713 .024421 -.520573 [.603] P9_20 .010471 .022759 .460103 [.645] P10_20 .022469 .023176 .969476 [.332] P11_20 .194603E-02 .023358 .083312 [.934] P12_20 .067041 .024269 2.76246 [.006] P13_20 -.696041E-02 .023267 -.299155 [.765] P14_20 -.081315 .024008 -3.38692 [.001] P15_20 -.010948 .021621 -.506368 [.613] P16_20 .094884 .029290 3.23943 [.001] P17_20 .050142 .026670 1.88006 [.060] DI1_20 .138809 .047906 2.89752 [.004] DF1_20 -.281086E-02 .011029 -.254861 [.799] DI2_20 .032592 .066461 .490396 [.624] DF2_20 .544714E-02 .010290 .529344 [.597] DI3_20 .123390 .057380 2.15041 [.032] DF3_20 .751353E-04 .959723E-02 .782886E-02 [.994] S1_20 -.278380 .100677 -2.76508 [.006] S2_20 .151895 .046305 3.28032 [.001] S3_20 .064023 .052083 1.22926 [.219] S4_20 .172405E-02 .035994 .047898 [.962] B_20 .030749 .030043 1.02348 [.306] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B20 Dependent variable: LPSE YMEAN 5.78277 S2 .435645 ARSQ .615167 SDEV 1.06397 S .660034 LMHET 8.93313 [.003] SSR 353.743 RSQ .629758 DW 1.91863 [<.651] INVESTOR #21 ====================== EQUATIONS: EQ_B21 NOB 845 SBIC 942.656 LOGL -831.457 Standard Parameter Estimate Error t-statistic P-value C_21 -1.01771 .439229 -2.31705 [.021] A4_21 .143477 .106944 1.34160 [.180] A3_21 .270981 .140879 1.92350 [.054] A2_21 .325027 .119821 2.71261 [.007] P0_21 .207543 .093067 2.23003 [.026] P1_21 -.025446 .028849 -.882043 [.378] P2_21 .406336E-02 .028149 .144353 [.885] P3_21 .013527 .024908 .543084 [.587] P4_21 .016794 .023883 .703195 [.482] P5_21 .024450 .026878 .909682 [.363] P6_21 -.064814 .024279 -2.66955 [.008] P7_21 -.034507 .025878 -1.33343 [.182] P8_21 -.013885 .024402 -.569034 [.569] P9_21 .010779 .022766 .473475 [.636] P10_21 .022937 .023179 .989554 [.322] P11_21 .138462E-02 .023360 .059273 [.953] P12_21 .068452 .024221 2.82617 [.005] P13_21 -.732058E-02 .023277 -.314496 [.753] P14_21 -.082290 .024024 -3.42531 [.001] P15_21 -.010963 .021630 -.506853 [.612] P16_21 .095214 .029302 3.24942 [.001] P17_21 .051351 .026652 1.92672 [.054] DI1_21 .138870 .047930 2.89733 [.004] DF1_21 -.259242E-02 .011036 -.234908 [.814] DI2_21 .033855 .066515 .508983 [.611] DF2_21 .554855E-02 .010295 .538981 [.590] DI3_21 .128221 .057232 2.24038 [.025] DF3_21 .866566E-04 .960759E-02 .901960E-02 [.993] S1_21 -.277271 .100725 -2.75276 [.006] S2_21 .152705 .046319 3.29681 [.001] S3_21 .058408 .051746 1.12874 [.259] S4_21 .284654E-02 .035983 .079107 [.937] B_21 .014181 .023290 .608894 [.543] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B21 Dependent variable: LPSE YMEAN 5.78277 S2 .436008 ARSQ .614847 SDEV 1.06397 S .660309 LMHET 8.68188 [.003] SSR 354.038 RSQ .629450 DW 1.91791 [<.647] INVESTOR #22 ====================== EQUATIONS: EQ_B22 NOB 845 SBIC 942.445 LOGL -831.246 Standard Parameter Estimate Error t-statistic P-value C_22 -1.04510 .438673 -2.38240 [.017] A4_22 .139879 .106703 1.31092 [.190] A3_22 .276970 .140716 1.96828 [.049] A2_22 .322777 .119839 2.69341 [.007] P0_22 .205432 .093039 2.20802 [.027] P1_22 -.025998 .028851 -.901114 [.368] P2_22 .519369E-02 .028172 .184356 [.854] P3_22 .013314 .024903 .534619 [.593] P4_22 .016592 .023879 .694829 [.487] P5_22 .022986 .026908 .854255 [.393] P6_22 -.063945 .024273 -2.63441 [.008] P7_22 -.035071 .025851 -1.35667 [.175] P8_22 -.013405 .024403 -.549305 [.583] P9_22 .911726E-02 .022842 .399144 [.690] P10_22 .023343 .023168 1.00757 [.314] P11_22 .631514E-03 .023366 .027026 [.978] P12_22 .068738 .024202 2.84021 [.005] P13_22 -.739213E-02 .023271 -.317649 [.751] P14_22 -.082336 .024013 -3.42875 [.001] P15_22 -.010881 .021625 -.503188 [.615] P16_22 .095820 .029286 3.27184 [.001] P17_22 .051351 .026645 1.92719 [.054] DI1_22 .139949 .047914 2.92081 [.003] DF1_22 -.286213E-02 .011031 -.259451 [.795] DI2_22 .029926 .066548 .449682 [.653] DF2_22 .577130E-02 .010290 .560876 [.575] DI3_22 .129348 .057238 2.25983 [.024] DF3_22 .366030E-03 .959485E-02 .038149 [.970] S1_22 -.272780 .100693 -2.70902 [.007] S2_22 .154259 .046284 3.33285 [.001] S3_22 .057004 .051724 1.10209 [.270] S4_22 .472968E-02 .035979 .131456 [.895] B_22 -.016837 .019116 -.880758 [.378] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B22 Dependent variable: LPSE YMEAN 5.78277 S2 .435790 ARSQ .615038 SDEV 1.06397 S .660144 LMHET 8.68964 [.003] SSR 353.862 RSQ .629634 DW 1.91824 [<.649] INVESTOR #23 ====================== EQUATIONS: EQ_B23 NOB 845 SBIC 942.638 LOGL -831.439 Standard Parameter Estimate Error t-statistic P-value C_23 -1.06140 .440882 -2.40745 [.016] A4_23 .137047 .106786 1.28338 [.199] A3_23 .277888 .140808 1.97353 [.048] A2_23 .326446 .119800 2.72492 [.006] P0_23 .206362 .093052 2.21771 [.027] P1_23 -.026206 .028881 -.907387 [.364] P2_23 .453794E-02 .028159 .161155 [.872] P3_23 .014587 .024924 .585272 [.558] P4_23 .017019 .023880 .712687 [.476] P5_23 .023609 .026895 .877838 [.380] P6_23 -.065265 .024305 -2.68525 [.007] P7_23 -.035300 .025858 -1.36514 [.172] P8_23 -.014134 .024403 -.579175 [.562] P9_23 .010985 .022767 .482504 [.629] P10_23 .023139 .023174 .998521 [.318] P11_23 .136948E-02 .023359 .058627 [.953] P12_23 .068837 .024207 2.84370 [.004] P13_23 -.732432E-02 .023277 -.314664 [.753] P14_23 -.081639 .024015 -3.39956 [.001] P15_23 -.010953 .021630 -.506372 [.613] P16_23 .095680 .029292 3.26640 [.001] P17_23 .051641 .026653 1.93750 [.053] DI1_23 .139977 .047930 2.92045 [.003] DF1_23 -.277837E-02 .011033 -.251817 [.801] DI2_23 .033260 .066493 .500207 [.617] DF2_23 .560913E-02 .010292 .544973 [.586] DI3_23 .128411 .057233 2.24364 [.025] DF3_23 .424615E-03 .959760E-02 .044242 [.965] S1_23 -.274164 .100691 -2.72282 [.006] S2_23 .154313 .046301 3.33281 [.001] S3_23 .056729 .051751 1.09619 [.273] S4_23 .399818E-02 .035970 .111154 [.911] B_23 -.739768E-02 .011634 -.635844 [.525] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B23 Dependent variable: LPSE YMEAN 5.78277 S2 .435990 ARSQ .614862 SDEV 1.06397 S .660295 LMHET 8.87010 [.003] SSR 354.024 RSQ .629465 DW 1.91712 [<.643] INVESTOR #24 ====================== EQUATIONS: EQ_B24 NOB 845 SBIC 942.523 LOGL -831.324 Standard Parameter Estimate Error t-statistic P-value C_24 -1.00080 .440317 -2.27291 [.023] A4_24 .143952 .106870 1.34697 [.178] A3_24 .269280 .140889 1.91129 [.056] A2_24 .324932 .119796 2.71238 [.007] P0_24 .208928 .093087 2.24444 [.025] P1_24 -.025359 .028843 -.879198 [.379] P2_24 .416937E-02 .028145 .148139 [.882] P3_24 .014510 .024909 .582542 [.560] P4_24 .017853 .023901 .746958 [.455] P5_24 .024814 .026881 .923108 [.356] P6_24 -.063529 .024296 -2.61479 [.009] P7_24 -.035225 .025854 -1.36249 [.173] P8_24 -.013117 .024420 -.537150 [.591] P9_24 .010779 .022762 .473529 [.636] P10_24 .024362 .023212 1.04954 [.294] P11_24 .183691E-02 .023366 .078616 [.937] P12_24 .069731 .024223 2.87871 [.004] P13_24 -.640846E-02 .023292 -.275140 [.783] P14_24 -.082067 .024011 -3.41793 [.001] P15_24 -.010882 .021627 -.503174 [.615] P16_24 .095528 .029289 3.26161 [.001] P17_24 .051112 .026651 1.91786 [.055] DI1_24 .139217 .047915 2.90546 [.004] DF1_24 -.271577E-02 .011032 -.246181 [.806] DI2_24 .031652 .066492 .476030 [.634] DF2_24 .577475E-02 .010291 .561151 [.575] DI3_24 .127119 .057231 2.22117 [.026] DF3_24 .172794E-04 .960541E-02 .179892E-02 [.999] S1_24 -.278369 .100732 -2.76346 [.006] S2_24 .152138 .046325 3.28415 [.001] S3_24 .060058 .051812 1.15915 [.246] S4_24 .297998E-02 .035966 .082856 [.934] B_24 .012858 .016257 .790947 [.429] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B24 Dependent variable: LPSE YMEAN 5.78277 S2 .435871 ARSQ .614967 SDEV 1.06397 S .660205 LMHET 8.70056 [.003] SSR 353.927 RSQ .629566 DW 1.91599 [<.637] INVESTOR #25 ====================== EQUATIONS: EQ_B25 NOB 845 SBIC 942.187 LOGL -830.988 Standard Parameter Estimate Error t-statistic P-value C_25 -1.00736 .438877 -2.29532 [.022] A4_25 .138297 .106672 1.29647 [.195] A3_25 .269370 .140739 1.91397 [.056] A2_25 .330164 .119785 2.75631 [.006] P0_25 .208893 .093025 2.24556 [.025] P1_25 -.026161 .028841 -.907073 [.364] P2_25 .455034E-02 .028137 .161722 [.872] P3_25 .014899 .024903 .598280 [.550] P4_25 .018311 .023895 .766296 [.444] P5_25 .025060 .026871 .932600 [.351] P6_25 -.065037 .024264 -2.68039 [.007] P7_25 -.035200 .025843 -1.36205 [.173] P8_25 -.012433 .024425 -.509020 [.611] P9_25 .010860 .022753 .477315 [.633] P10_25 .024134 .023174 1.04143 [.298] P11_25 .157703E-02 .023348 .067545 [.946] P12_25 .069414 .024197 2.86872 [.004] P13_25 -.776540E-02 .023269 -.333724 [.739] P14_25 -.081819 .024000 -3.40919 [.001] P15_25 -.011033 .021618 -.510367 [.610] P16_25 .095813 .029277 3.27263 [.001] P17_25 .051185 .026638 1.92152 [.055] DI1_25 .139730 .047897 2.91732 [.004] DF1_25 -.254489E-02 .011029 -.230755 [.818] DI2_25 .036025 .066516 .541601 [.588] DF2_25 .547022E-02 .010288 .531706 [.595] DI3_25 .126204 .057219 2.20561 [.027] DF3_25 -.234837E-04 .959788E-02 -.244676E-02 [.998] S1_25 -.279118 .100675 -2.77246 [.006] S2_25 .153148 .046268 3.31003 [.001] S3_25 .057787 .051703 1.11768 [.264] S4_25 .198075E-02 .035971 .055064 [.956] B_25 .021333 .018911 1.12804 [.259] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_B25 Dependent variable: LPSE YMEAN 5.78277 S2 .435524 ARSQ .615274 SDEV 1.06397 S .659943 LMHET 8.60284 [.003] SSR 353.646 RSQ .629860 DW 1.91228 [<.616]