INVESTOR #1 ===================== EQUATIONS: EQ_NB1 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_1 -1.01124 .477370 -2.11836 [.034] A5_1 .137289 .120060 1.14350 [.253] A4_1 .158029 .190295 .830447 [.406] A3_1 .147672 .178504 .827275 [.408] A2_1 .306234 .127241 2.40672 [.016] P0_1 .209843 .097784 2.14598 [.032] P1_1 -.019731 .029985 -.658025 [.511] P2_1 -.687232E-02 .029694 -.231440 [.817] P3_1 .010378 .026123 .397276 [.691] P4_1 .014111 .025263 .558552 [.576] P5_1 .031177 .028716 1.08571 [.278] P6_1 -.064655 .025505 -2.53495 [.011] P7_1 -.045803 .027338 -1.67546 [.094] P8_1 -.017679 .025410 -.695747 [.487] P9_1 .011012 .024066 .457583 [.647] P10_1 .024787 .024335 1.01858 [.308] P11_1 .949033E-03 .024705 .038414 [.969] P12_1 .061356 .025575 2.39907 [.016] P13_1 -.883138E-02 .024943 -.354060 [.723] P14_1 -.076361 .025309 -3.01711 [.003] P15_1 -.011648 .022049 -.528290 [.597] P16_1 .097427 .031002 3.14260 [.002] P17_1 .047684 .028988 1.64493 [.100] DI1_1 .145621 .050221 2.89960 [.004] DF1_1 -.676136E-02 .011778 -.574048 [.566] DI2_1 .028845 .070294 .410343 [.682] DF2_1 .011703 .011218 1.04322 [.297] DI3_1 .053199 .087474 .608173 [.543] DF3_1 .168528E-02 .010421 .161724 [.872] DI4_1 .044280 .082156 .538972 [.590] DF4_1 -.191120E-02 .010905 -.175255 [.861] S1_1 -.276905 .105038 -2.63623 [.008] S2_1 .146465 .048588 3.01440 [.003] S3_1 .046675 .059037 .790605 [.429] S4_1 .389843E-02 .060394 .064550 [.949] S5_1 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB1 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #2 ===================== EQUATIONS: EQ_NB2 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_2 -1.01124 .477370 -2.11836 [.034] A5_2 .137289 .120060 1.14350 [.253] A4_2 .158029 .190295 .830447 [.406] A3_2 .147672 .178504 .827275 [.408] A2_2 .306234 .127241 2.40672 [.016] P0_2 .209843 .097784 2.14598 [.032] P1_2 -.019731 .029985 -.658025 [.511] P2_2 -.687232E-02 .029694 -.231440 [.817] P3_2 .010378 .026123 .397276 [.691] P4_2 .014111 .025263 .558552 [.576] P5_2 .031177 .028716 1.08571 [.278] P6_2 -.064655 .025505 -2.53495 [.011] P7_2 -.045803 .027338 -1.67546 [.094] P8_2 -.017679 .025410 -.695747 [.487] P9_2 .011012 .024066 .457583 [.647] P10_2 .024787 .024335 1.01858 [.308] P11_2 .949033E-03 .024705 .038414 [.969] P12_2 .061356 .025575 2.39907 [.016] P13_2 -.883138E-02 .024943 -.354060 [.723] P14_2 -.076361 .025309 -3.01711 [.003] P15_2 -.011648 .022049 -.528290 [.597] P16_2 .097427 .031002 3.14260 [.002] P17_2 .047684 .028988 1.64493 [.100] DI1_2 .145621 .050221 2.89960 [.004] DF1_2 -.676136E-02 .011778 -.574048 [.566] DI2_2 .028845 .070294 .410343 [.682] DF2_2 .011703 .011218 1.04322 [.297] DI3_2 .053199 .087474 .608173 [.543] DF3_2 .168528E-02 .010421 .161724 [.872] DI4_2 .044280 .082156 .538972 [.590] DF4_2 -.191120E-02 .010905 -.175255 [.861] S1_2 -.276905 .105038 -2.63623 [.008] S2_2 .146465 .048588 3.01440 [.003] S3_2 .046675 .059037 .790605 [.429] S4_2 .389843E-02 .060394 .064550 [.949] S5_2 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB2 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #4 ===================== EQUATIONS: EQ_NB4 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_4 -1.01124 .477370 -2.11836 [.034] A5_4 .137289 .120060 1.14350 [.253] A4_4 .158029 .190295 .830447 [.406] A3_4 .147672 .178504 .827275 [.408] A2_4 .306234 .127241 2.40672 [.016] P0_4 .209843 .097784 2.14598 [.032] P1_4 -.019731 .029985 -.658025 [.511] P2_4 -.687232E-02 .029694 -.231440 [.817] P3_4 .010378 .026123 .397276 [.691] P4_4 .014111 .025263 .558552 [.576] P5_4 .031177 .028716 1.08571 [.278] P6_4 -.064655 .025505 -2.53495 [.011] P7_4 -.045803 .027338 -1.67546 [.094] P8_4 -.017679 .025410 -.695747 [.487] P9_4 .011012 .024066 .457583 [.647] P10_4 .024787 .024335 1.01858 [.308] P11_4 .949033E-03 .024705 .038414 [.969] P12_4 .061356 .025575 2.39907 [.016] P13_4 -.883138E-02 .024943 -.354060 [.723] P14_4 -.076361 .025309 -3.01711 [.003] P15_4 -.011648 .022049 -.528290 [.597] P16_4 .097427 .031002 3.14260 [.002] P17_4 .047684 .028988 1.64493 [.100] DI1_4 .145621 .050221 2.89960 [.004] DF1_4 -.676136E-02 .011778 -.574048 [.566] DI2_4 .028845 .070294 .410343 [.682] DF2_4 .011703 .011218 1.04322 [.297] DI3_4 .053199 .087474 .608173 [.543] DF3_4 .168528E-02 .010421 .161724 [.872] DI4_4 .044280 .082156 .538972 [.590] DF4_4 -.191120E-02 .010905 -.175255 [.861] S1_4 -.276905 .105038 -2.63623 [.008] S2_4 .146465 .048588 3.01440 [.003] S3_4 .046675 .059037 .790605 [.429] S4_4 .389843E-02 .060394 .064550 [.949] S5_4 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB4 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #6 ===================== EQUATIONS: EQ_NB6 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_6 -1.01124 .477370 -2.11836 [.034] A5_6 .137289 .120060 1.14350 [.253] A4_6 .158029 .190295 .830447 [.406] A3_6 .147672 .178504 .827275 [.408] A2_6 .306234 .127241 2.40672 [.016] P0_6 .209843 .097784 2.14598 [.032] P1_6 -.019731 .029985 -.658025 [.511] P2_6 -.687232E-02 .029694 -.231440 [.817] P3_6 .010378 .026123 .397276 [.691] P4_6 .014111 .025263 .558552 [.576] P5_6 .031177 .028716 1.08571 [.278] P6_6 -.064655 .025505 -2.53495 [.011] P7_6 -.045803 .027338 -1.67546 [.094] P8_6 -.017679 .025410 -.695747 [.487] P9_6 .011012 .024066 .457583 [.647] P10_6 .024787 .024335 1.01858 [.308] P11_6 .949033E-03 .024705 .038414 [.969] P12_6 .061356 .025575 2.39907 [.016] P13_6 -.883138E-02 .024943 -.354060 [.723] P14_6 -.076361 .025309 -3.01711 [.003] P15_6 -.011648 .022049 -.528290 [.597] P16_6 .097427 .031002 3.14260 [.002] P17_6 .047684 .028988 1.64493 [.100] DI1_6 .145621 .050221 2.89960 [.004] DF1_6 -.676136E-02 .011778 -.574048 [.566] DI2_6 .028845 .070294 .410343 [.682] DF2_6 .011703 .011218 1.04322 [.297] DI3_6 .053199 .087474 .608173 [.543] DF3_6 .168528E-02 .010421 .161724 [.872] DI4_6 .044280 .082156 .538972 [.590] DF4_6 -.191120E-02 .010905 -.175255 [.861] S1_6 -.276905 .105038 -2.63623 [.008] S2_6 .146465 .048588 3.01440 [.003] S3_6 .046675 .059037 .790605 [.429] S4_6 .389843E-02 .060394 .064550 [.949] S5_6 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB6 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #7 ===================== EQUATIONS: EQ_NB7 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_7 -1.01124 .477370 -2.11836 [.034] A5_7 .137289 .120060 1.14350 [.253] A4_7 .158029 .190295 .830447 [.406] A3_7 .147672 .178504 .827275 [.408] A2_7 .306234 .127241 2.40672 [.016] P0_7 .209843 .097784 2.14598 [.032] P1_7 -.019731 .029985 -.658025 [.511] P2_7 -.687232E-02 .029694 -.231440 [.817] P3_7 .010378 .026123 .397276 [.691] P4_7 .014111 .025263 .558552 [.576] P5_7 .031177 .028716 1.08571 [.278] P6_7 -.064655 .025505 -2.53495 [.011] P7_7 -.045803 .027338 -1.67546 [.094] P8_7 -.017679 .025410 -.695747 [.487] P9_7 .011012 .024066 .457583 [.647] P10_7 .024787 .024335 1.01858 [.308] P11_7 .949033E-03 .024705 .038414 [.969] P12_7 .061356 .025575 2.39907 [.016] P13_7 -.883138E-02 .024943 -.354060 [.723] P14_7 -.076361 .025309 -3.01711 [.003] P15_7 -.011648 .022049 -.528290 [.597] P16_7 .097427 .031002 3.14260 [.002] P17_7 .047684 .028988 1.64493 [.100] DI1_7 .145621 .050221 2.89960 [.004] DF1_7 -.676136E-02 .011778 -.574048 [.566] DI2_7 .028845 .070294 .410343 [.682] DF2_7 .011703 .011218 1.04322 [.297] DI3_7 .053199 .087474 .608173 [.543] DF3_7 .168528E-02 .010421 .161724 [.872] DI4_7 .044280 .082156 .538972 [.590] DF4_7 -.191120E-02 .010905 -.175255 [.861] S1_7 -.276905 .105038 -2.63623 [.008] S2_7 .146465 .048588 3.01440 [.003] S3_7 .046675 .059037 .790605 [.429] S4_7 .389843E-02 .060394 .064550 [.949] S5_7 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB7 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #8 ===================== EQUATIONS: EQ_NB8 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_8 -1.01124 .477370 -2.11836 [.034] A5_8 .137289 .120060 1.14350 [.253] A4_8 .158029 .190295 .830447 [.406] A3_8 .147672 .178504 .827275 [.408] A2_8 .306234 .127241 2.40672 [.016] P0_8 .209843 .097784 2.14598 [.032] P1_8 -.019731 .029985 -.658025 [.511] P2_8 -.687232E-02 .029694 -.231440 [.817] P3_8 .010378 .026123 .397276 [.691] P4_8 .014111 .025263 .558552 [.576] P5_8 .031177 .028716 1.08571 [.278] P6_8 -.064655 .025505 -2.53495 [.011] P7_8 -.045803 .027338 -1.67546 [.094] P8_8 -.017679 .025410 -.695747 [.487] P9_8 .011012 .024066 .457583 [.647] P10_8 .024787 .024335 1.01858 [.308] P11_8 .949033E-03 .024705 .038414 [.969] P12_8 .061356 .025575 2.39907 [.016] P13_8 -.883138E-02 .024943 -.354060 [.723] P14_8 -.076361 .025309 -3.01711 [.003] P15_8 -.011648 .022049 -.528290 [.597] P16_8 .097427 .031002 3.14260 [.002] P17_8 .047684 .028988 1.64493 [.100] DI1_8 .145621 .050221 2.89960 [.004] DF1_8 -.676136E-02 .011778 -.574048 [.566] DI2_8 .028845 .070294 .410343 [.682] DF2_8 .011703 .011218 1.04322 [.297] DI3_8 .053199 .087474 .608173 [.543] DF3_8 .168528E-02 .010421 .161724 [.872] DI4_8 .044280 .082156 .538972 [.590] DF4_8 -.191120E-02 .010905 -.175255 [.861] S1_8 -.276905 .105038 -2.63623 [.008] S2_8 .146465 .048588 3.01440 [.003] S3_8 .046675 .059037 .790605 [.429] S4_8 .389843E-02 .060394 .064550 [.949] S5_8 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB8 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #9 ===================== EQUATIONS: EQ_NB9 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_9 -1.01124 .477370 -2.11836 [.034] A5_9 .137289 .120060 1.14350 [.253] A4_9 .158029 .190295 .830447 [.406] A3_9 .147672 .178504 .827275 [.408] A2_9 .306234 .127241 2.40672 [.016] P0_9 .209843 .097784 2.14598 [.032] P1_9 -.019731 .029985 -.658025 [.511] P2_9 -.687232E-02 .029694 -.231440 [.817] P3_9 .010378 .026123 .397276 [.691] P4_9 .014111 .025263 .558552 [.576] P5_9 .031177 .028716 1.08571 [.278] P6_9 -.064655 .025505 -2.53495 [.011] P7_9 -.045803 .027338 -1.67546 [.094] P8_9 -.017679 .025410 -.695747 [.487] P9_9 .011012 .024066 .457583 [.647] P10_9 .024787 .024335 1.01858 [.308] P11_9 .949033E-03 .024705 .038414 [.969] P12_9 .061356 .025575 2.39907 [.016] P13_9 -.883138E-02 .024943 -.354060 [.723] P14_9 -.076361 .025309 -3.01711 [.003] P15_9 -.011648 .022049 -.528290 [.597] P16_9 .097427 .031002 3.14260 [.002] P17_9 .047684 .028988 1.64493 [.100] DI1_9 .145621 .050221 2.89960 [.004] DF1_9 -.676136E-02 .011778 -.574048 [.566] DI2_9 .028845 .070294 .410343 [.682] DF2_9 .011703 .011218 1.04322 [.297] DI3_9 .053199 .087474 .608173 [.543] DF3_9 .168528E-02 .010421 .161724 [.872] DI4_9 .044280 .082156 .538972 [.590] DF4_9 -.191120E-02 .010905 -.175255 [.861] S1_9 -.276905 .105038 -2.63623 [.008] S2_9 .146465 .048588 3.01440 [.003] S3_9 .046675 .059037 .790605 [.429] S4_9 .389843E-02 .060394 .064550 [.949] S5_9 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB9 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #10 ====================== EQUATIONS: EQ_NB10 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_10 -1.01124 .477370 -2.11836 [.034] A5_10 .137289 .120060 1.14350 [.253] A4_10 .158029 .190295 .830447 [.406] A3_10 .147672 .178504 .827275 [.408] A2_10 .306234 .127241 2.40672 [.016] P0_10 .209843 .097784 2.14598 [.032] P1_10 -.019731 .029985 -.658025 [.511] P2_10 -.687232E-02 .029694 -.231440 [.817] P3_10 .010378 .026123 .397276 [.691] P4_10 .014111 .025263 .558552 [.576] P5_10 .031177 .028716 1.08571 [.278] P6_10 -.064655 .025505 -2.53495 [.011] P7_10 -.045803 .027338 -1.67546 [.094] P8_10 -.017679 .025410 -.695747 [.487] P9_10 .011012 .024066 .457583 [.647] P10_10 .024787 .024335 1.01858 [.308] P11_10 .949033E-03 .024705 .038414 [.969] P12_10 .061356 .025575 2.39907 [.016] P13_10 -.883138E-02 .024943 -.354060 [.723] P14_10 -.076361 .025309 -3.01711 [.003] P15_10 -.011648 .022049 -.528290 [.597] P16_10 .097427 .031002 3.14260 [.002] P17_10 .047684 .028988 1.64493 [.100] DI1_10 .145621 .050221 2.89960 [.004] DF1_10 -.676136E-02 .011778 -.574048 [.566] DI2_10 .028845 .070294 .410343 [.682] DF2_10 .011703 .011218 1.04322 [.297] DI3_10 .053199 .087474 .608173 [.543] DF3_10 .168528E-02 .010421 .161724 [.872] DI4_10 .044280 .082156 .538972 [.590] DF4_10 -.191120E-02 .010905 -.175255 [.861] S1_10 -.276905 .105038 -2.63623 [.008] S2_10 .146465 .048588 3.01440 [.003] S3_10 .046675 .059037 .790605 [.429] S4_10 .389843E-02 .060394 .064550 [.949] S5_10 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB10 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #11 ====================== EQUATIONS: EQ_NB11 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_11 -1.01124 .477370 -2.11836 [.034] A5_11 .137289 .120060 1.14350 [.253] A4_11 .158029 .190295 .830447 [.406] A3_11 .147672 .178504 .827275 [.408] A2_11 .306234 .127241 2.40672 [.016] P0_11 .209843 .097784 2.14598 [.032] P1_11 -.019731 .029985 -.658025 [.511] P2_11 -.687232E-02 .029694 -.231440 [.817] P3_11 .010378 .026123 .397276 [.691] P4_11 .014111 .025263 .558552 [.576] P5_11 .031177 .028716 1.08571 [.278] P6_11 -.064655 .025505 -2.53495 [.011] P7_11 -.045803 .027338 -1.67546 [.094] P8_11 -.017679 .025410 -.695747 [.487] P9_11 .011012 .024066 .457583 [.647] P10_11 .024787 .024335 1.01858 [.308] P11_11 .949033E-03 .024705 .038414 [.969] P12_11 .061356 .025575 2.39907 [.016] P13_11 -.883138E-02 .024943 -.354060 [.723] P14_11 -.076361 .025309 -3.01711 [.003] P15_11 -.011648 .022049 -.528290 [.597] P16_11 .097427 .031002 3.14260 [.002] P17_11 .047684 .028988 1.64493 [.100] DI1_11 .145621 .050221 2.89960 [.004] DF1_11 -.676136E-02 .011778 -.574048 [.566] DI2_11 .028845 .070294 .410343 [.682] DF2_11 .011703 .011218 1.04322 [.297] DI3_11 .053199 .087474 .608173 [.543] DF3_11 .168528E-02 .010421 .161724 [.872] DI4_11 .044280 .082156 .538972 [.590] DF4_11 -.191120E-02 .010905 -.175255 [.861] S1_11 -.276905 .105038 -2.63623 [.008] S2_11 .146465 .048588 3.01440 [.003] S3_11 .046675 .059037 .790605 [.429] S4_11 .389843E-02 .060394 .064550 [.949] S5_11 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB11 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #12 ====================== EQUATIONS: EQ_NB12 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_12 -1.01124 .477370 -2.11836 [.034] A5_12 .137289 .120060 1.14350 [.253] A4_12 .158029 .190295 .830447 [.406] A3_12 .147672 .178504 .827275 [.408] A2_12 .306234 .127241 2.40672 [.016] P0_12 .209843 .097784 2.14598 [.032] P1_12 -.019731 .029985 -.658025 [.511] P2_12 -.687232E-02 .029694 -.231440 [.817] P3_12 .010378 .026123 .397276 [.691] P4_12 .014111 .025263 .558552 [.576] P5_12 .031177 .028716 1.08571 [.278] P6_12 -.064655 .025505 -2.53495 [.011] P7_12 -.045803 .027338 -1.67546 [.094] P8_12 -.017679 .025410 -.695747 [.487] P9_12 .011012 .024066 .457583 [.647] P10_12 .024787 .024335 1.01858 [.308] P11_12 .949033E-03 .024705 .038414 [.969] P12_12 .061356 .025575 2.39907 [.016] P13_12 -.883138E-02 .024943 -.354060 [.723] P14_12 -.076361 .025309 -3.01711 [.003] P15_12 -.011648 .022049 -.528290 [.597] P16_12 .097427 .031002 3.14260 [.002] P17_12 .047684 .028988 1.64493 [.100] DI1_12 .145621 .050221 2.89960 [.004] DF1_12 -.676136E-02 .011778 -.574048 [.566] DI2_12 .028845 .070294 .410343 [.682] DF2_12 .011703 .011218 1.04322 [.297] DI3_12 .053199 .087474 .608173 [.543] DF3_12 .168528E-02 .010421 .161724 [.872] DI4_12 .044280 .082156 .538972 [.590] DF4_12 -.191120E-02 .010905 -.175255 [.861] S1_12 -.276905 .105038 -2.63623 [.008] S2_12 .146465 .048588 3.01440 [.003] S3_12 .046675 .059037 .790605 [.429] S4_12 .389843E-02 .060394 .064550 [.949] S5_12 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB12 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #13 ====================== EQUATIONS: EQ_NB13 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_13 -1.01124 .477370 -2.11836 [.034] A5_13 .137289 .120060 1.14350 [.253] A4_13 .158029 .190295 .830447 [.406] A3_13 .147672 .178504 .827275 [.408] A2_13 .306234 .127241 2.40672 [.016] P0_13 .209843 .097784 2.14598 [.032] P1_13 -.019731 .029985 -.658025 [.511] P2_13 -.687232E-02 .029694 -.231440 [.817] P3_13 .010378 .026123 .397276 [.691] P4_13 .014111 .025263 .558552 [.576] P5_13 .031177 .028716 1.08571 [.278] P6_13 -.064655 .025505 -2.53495 [.011] P7_13 -.045803 .027338 -1.67546 [.094] P8_13 -.017679 .025410 -.695747 [.487] P9_13 .011012 .024066 .457583 [.647] P10_13 .024787 .024335 1.01858 [.308] P11_13 .949033E-03 .024705 .038414 [.969] P12_13 .061356 .025575 2.39907 [.016] P13_13 -.883138E-02 .024943 -.354060 [.723] P14_13 -.076361 .025309 -3.01711 [.003] P15_13 -.011648 .022049 -.528290 [.597] P16_13 .097427 .031002 3.14260 [.002] P17_13 .047684 .028988 1.64493 [.100] DI1_13 .145621 .050221 2.89960 [.004] DF1_13 -.676136E-02 .011778 -.574048 [.566] DI2_13 .028845 .070294 .410343 [.682] DF2_13 .011703 .011218 1.04322 [.297] DI3_13 .053199 .087474 .608173 [.543] DF3_13 .168528E-02 .010421 .161724 [.872] DI4_13 .044280 .082156 .538972 [.590] DF4_13 -.191120E-02 .010905 -.175255 [.861] S1_13 -.276905 .105038 -2.63623 [.008] S2_13 .146465 .048588 3.01440 [.003] S3_13 .046675 .059037 .790605 [.429] S4_13 .389843E-02 .060394 .064550 [.949] S5_13 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB13 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #14 ====================== EQUATIONS: EQ_NB14 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_14 -1.01124 .477370 -2.11836 [.034] A5_14 .137289 .120060 1.14350 [.253] A4_14 .158029 .190295 .830447 [.406] A3_14 .147672 .178504 .827275 [.408] A2_14 .306234 .127241 2.40672 [.016] P0_14 .209843 .097784 2.14598 [.032] P1_14 -.019731 .029985 -.658025 [.511] P2_14 -.687232E-02 .029694 -.231440 [.817] P3_14 .010378 .026123 .397276 [.691] P4_14 .014111 .025263 .558552 [.576] P5_14 .031177 .028716 1.08571 [.278] P6_14 -.064655 .025505 -2.53495 [.011] P7_14 -.045803 .027338 -1.67546 [.094] P8_14 -.017679 .025410 -.695747 [.487] P9_14 .011012 .024066 .457583 [.647] P10_14 .024787 .024335 1.01858 [.308] P11_14 .949033E-03 .024705 .038414 [.969] P12_14 .061356 .025575 2.39907 [.016] P13_14 -.883138E-02 .024943 -.354060 [.723] P14_14 -.076361 .025309 -3.01711 [.003] P15_14 -.011648 .022049 -.528290 [.597] P16_14 .097427 .031002 3.14260 [.002] P17_14 .047684 .028988 1.64493 [.100] DI1_14 .145621 .050221 2.89960 [.004] DF1_14 -.676136E-02 .011778 -.574048 [.566] DI2_14 .028845 .070294 .410343 [.682] DF2_14 .011703 .011218 1.04322 [.297] DI3_14 .053199 .087474 .608173 [.543] DF3_14 .168528E-02 .010421 .161724 [.872] DI4_14 .044280 .082156 .538972 [.590] DF4_14 -.191120E-02 .010905 -.175255 [.861] S1_14 -.276905 .105038 -2.63623 [.008] S2_14 .146465 .048588 3.01440 [.003] S3_14 .046675 .059037 .790605 [.429] S4_14 .389843E-02 .060394 .064550 [.949] S5_14 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB14 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #15 ====================== EQUATIONS: EQ_NB15 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_15 -1.01124 .477370 -2.11836 [.034] A5_15 .137289 .120060 1.14350 [.253] A4_15 .158029 .190295 .830447 [.406] A3_15 .147672 .178504 .827275 [.408] A2_15 .306234 .127241 2.40672 [.016] P0_15 .209843 .097784 2.14598 [.032] P1_15 -.019731 .029985 -.658025 [.511] P2_15 -.687232E-02 .029694 -.231440 [.817] P3_15 .010378 .026123 .397276 [.691] P4_15 .014111 .025263 .558552 [.576] P5_15 .031177 .028716 1.08571 [.278] P6_15 -.064655 .025505 -2.53495 [.011] P7_15 -.045803 .027338 -1.67546 [.094] P8_15 -.017679 .025410 -.695747 [.487] P9_15 .011012 .024066 .457583 [.647] P10_15 .024787 .024335 1.01858 [.308] P11_15 .949033E-03 .024705 .038414 [.969] P12_15 .061356 .025575 2.39907 [.016] P13_15 -.883138E-02 .024943 -.354060 [.723] P14_15 -.076361 .025309 -3.01711 [.003] P15_15 -.011648 .022049 -.528290 [.597] P16_15 .097427 .031002 3.14260 [.002] P17_15 .047684 .028988 1.64493 [.100] DI1_15 .145621 .050221 2.89960 [.004] DF1_15 -.676136E-02 .011778 -.574048 [.566] DI2_15 .028845 .070294 .410343 [.682] DF2_15 .011703 .011218 1.04322 [.297] DI3_15 .053199 .087474 .608173 [.543] DF3_15 .168528E-02 .010421 .161724 [.872] DI4_15 .044280 .082156 .538972 [.590] DF4_15 -.191120E-02 .010905 -.175255 [.861] S1_15 -.276905 .105038 -2.63623 [.008] S2_15 .146465 .048588 3.01440 [.003] S3_15 .046675 .059037 .790605 [.429] S4_15 .389843E-02 .060394 .064550 [.949] S5_15 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB15 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #17 ====================== EQUATIONS: EQ_NB17 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_17 -1.01124 .477370 -2.11836 [.034] A5_17 .137289 .120060 1.14350 [.253] A4_17 .158029 .190295 .830447 [.406] A3_17 .147672 .178504 .827275 [.408] A2_17 .306234 .127241 2.40672 [.016] P0_17 .209843 .097784 2.14598 [.032] P1_17 -.019731 .029985 -.658025 [.511] P2_17 -.687232E-02 .029694 -.231440 [.817] P3_17 .010378 .026123 .397276 [.691] P4_17 .014111 .025263 .558552 [.576] P5_17 .031177 .028716 1.08571 [.278] P6_17 -.064655 .025505 -2.53495 [.011] P7_17 -.045803 .027338 -1.67546 [.094] P8_17 -.017679 .025410 -.695747 [.487] P9_17 .011012 .024066 .457583 [.647] P10_17 .024787 .024335 1.01858 [.308] P11_17 .949033E-03 .024705 .038414 [.969] P12_17 .061356 .025575 2.39907 [.016] P13_17 -.883138E-02 .024943 -.354060 [.723] P14_17 -.076361 .025309 -3.01711 [.003] P15_17 -.011648 .022049 -.528290 [.597] P16_17 .097427 .031002 3.14260 [.002] P17_17 .047684 .028988 1.64493 [.100] DI1_17 .145621 .050221 2.89960 [.004] DF1_17 -.676136E-02 .011778 -.574048 [.566] DI2_17 .028845 .070294 .410343 [.682] DF2_17 .011703 .011218 1.04322 [.297] DI3_17 .053199 .087474 .608173 [.543] DF3_17 .168528E-02 .010421 .161724 [.872] DI4_17 .044280 .082156 .538972 [.590] DF4_17 -.191120E-02 .010905 -.175255 [.861] S1_17 -.276905 .105038 -2.63623 [.008] S2_17 .146465 .048588 3.01440 [.003] S3_17 .046675 .059037 .790605 [.429] S4_17 .389843E-02 .060394 .064550 [.949] S5_17 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB17 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #18 ====================== EQUATIONS: EQ_NB18 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_18 -1.01124 .477370 -2.11836 [.034] A5_18 .137289 .120060 1.14350 [.253] A4_18 .158029 .190295 .830447 [.406] A3_18 .147672 .178504 .827275 [.408] A2_18 .306234 .127241 2.40672 [.016] P0_18 .209843 .097784 2.14598 [.032] P1_18 -.019731 .029985 -.658025 [.511] P2_18 -.687232E-02 .029694 -.231440 [.817] P3_18 .010378 .026123 .397276 [.691] P4_18 .014111 .025263 .558552 [.576] P5_18 .031177 .028716 1.08571 [.278] P6_18 -.064655 .025505 -2.53495 [.011] P7_18 -.045803 .027338 -1.67546 [.094] P8_18 -.017679 .025410 -.695747 [.487] P9_18 .011012 .024066 .457583 [.647] P10_18 .024787 .024335 1.01858 [.308] P11_18 .949033E-03 .024705 .038414 [.969] P12_18 .061356 .025575 2.39907 [.016] P13_18 -.883138E-02 .024943 -.354060 [.723] P14_18 -.076361 .025309 -3.01711 [.003] P15_18 -.011648 .022049 -.528290 [.597] P16_18 .097427 .031002 3.14260 [.002] P17_18 .047684 .028988 1.64493 [.100] DI1_18 .145621 .050221 2.89960 [.004] DF1_18 -.676136E-02 .011778 -.574048 [.566] DI2_18 .028845 .070294 .410343 [.682] DF2_18 .011703 .011218 1.04322 [.297] DI3_18 .053199 .087474 .608173 [.543] DF3_18 .168528E-02 .010421 .161724 [.872] DI4_18 .044280 .082156 .538972 [.590] DF4_18 -.191120E-02 .010905 -.175255 [.861] S1_18 -.276905 .105038 -2.63623 [.008] S2_18 .146465 .048588 3.01440 [.003] S3_18 .046675 .059037 .790605 [.429] S4_18 .389843E-02 .060394 .064550 [.949] S5_18 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB18 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #19 ====================== EQUATIONS: EQ_NB19 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_19 -1.01124 .477370 -2.11836 [.034] A5_19 .137289 .120060 1.14350 [.253] A4_19 .158029 .190295 .830447 [.406] A3_19 .147672 .178504 .827275 [.408] A2_19 .306234 .127241 2.40672 [.016] P0_19 .209843 .097784 2.14598 [.032] P1_19 -.019731 .029985 -.658025 [.511] P2_19 -.687232E-02 .029694 -.231440 [.817] P3_19 .010378 .026123 .397276 [.691] P4_19 .014111 .025263 .558552 [.576] P5_19 .031177 .028716 1.08571 [.278] P6_19 -.064655 .025505 -2.53495 [.011] P7_19 -.045803 .027338 -1.67546 [.094] P8_19 -.017679 .025410 -.695747 [.487] P9_19 .011012 .024066 .457583 [.647] P10_19 .024787 .024335 1.01858 [.308] P11_19 .949033E-03 .024705 .038414 [.969] P12_19 .061356 .025575 2.39907 [.016] P13_19 -.883138E-02 .024943 -.354060 [.723] P14_19 -.076361 .025309 -3.01711 [.003] P15_19 -.011648 .022049 -.528290 [.597] P16_19 .097427 .031002 3.14260 [.002] P17_19 .047684 .028988 1.64493 [.100] DI1_19 .145621 .050221 2.89960 [.004] DF1_19 -.676136E-02 .011778 -.574048 [.566] DI2_19 .028845 .070294 .410343 [.682] DF2_19 .011703 .011218 1.04322 [.297] DI3_19 .053199 .087474 .608173 [.543] DF3_19 .168528E-02 .010421 .161724 [.872] DI4_19 .044280 .082156 .538972 [.590] DF4_19 -.191120E-02 .010905 -.175255 [.861] S1_19 -.276905 .105038 -2.63623 [.008] S2_19 .146465 .048588 3.01440 [.003] S3_19 .046675 .059037 .790605 [.429] S4_19 .389843E-02 .060394 .064550 [.949] S5_19 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB19 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #20 ====================== EQUATIONS: EQ_NB20 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_20 -1.01124 .477370 -2.11836 [.034] A5_20 .137289 .120060 1.14350 [.253] A4_20 .158029 .190295 .830447 [.406] A3_20 .147672 .178504 .827275 [.408] A2_20 .306234 .127241 2.40672 [.016] P0_20 .209843 .097784 2.14598 [.032] P1_20 -.019731 .029985 -.658025 [.511] P2_20 -.687232E-02 .029694 -.231440 [.817] P3_20 .010378 .026123 .397276 [.691] P4_20 .014111 .025263 .558552 [.576] P5_20 .031177 .028716 1.08571 [.278] P6_20 -.064655 .025505 -2.53495 [.011] P7_20 -.045803 .027338 -1.67546 [.094] P8_20 -.017679 .025410 -.695747 [.487] P9_20 .011012 .024066 .457583 [.647] P10_20 .024787 .024335 1.01858 [.308] P11_20 .949033E-03 .024705 .038414 [.969] P12_20 .061356 .025575 2.39907 [.016] P13_20 -.883138E-02 .024943 -.354060 [.723] P14_20 -.076361 .025309 -3.01711 [.003] P15_20 -.011648 .022049 -.528290 [.597] P16_20 .097427 .031002 3.14260 [.002] P17_20 .047684 .028988 1.64493 [.100] DI1_20 .145621 .050221 2.89960 [.004] DF1_20 -.676136E-02 .011778 -.574048 [.566] DI2_20 .028845 .070294 .410343 [.682] DF2_20 .011703 .011218 1.04322 [.297] DI3_20 .053199 .087474 .608173 [.543] DF3_20 .168528E-02 .010421 .161724 [.872] DI4_20 .044280 .082156 .538972 [.590] DF4_20 -.191120E-02 .010905 -.175255 [.861] S1_20 -.276905 .105038 -2.63623 [.008] S2_20 .146465 .048588 3.01440 [.003] S3_20 .046675 .059037 .790605 [.429] S4_20 .389843E-02 .060394 .064550 [.949] S5_20 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB20 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #21 ====================== EQUATIONS: EQ_NB21 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_21 -1.01124 .477370 -2.11836 [.034] A5_21 .137289 .120060 1.14350 [.253] A4_21 .158029 .190295 .830447 [.406] A3_21 .147672 .178504 .827275 [.408] A2_21 .306234 .127241 2.40672 [.016] P0_21 .209843 .097784 2.14598 [.032] P1_21 -.019731 .029985 -.658025 [.511] P2_21 -.687232E-02 .029694 -.231440 [.817] P3_21 .010378 .026123 .397276 [.691] P4_21 .014111 .025263 .558552 [.576] P5_21 .031177 .028716 1.08571 [.278] P6_21 -.064655 .025505 -2.53495 [.011] P7_21 -.045803 .027338 -1.67546 [.094] P8_21 -.017679 .025410 -.695747 [.487] P9_21 .011012 .024066 .457583 [.647] P10_21 .024787 .024335 1.01858 [.308] P11_21 .949033E-03 .024705 .038414 [.969] P12_21 .061356 .025575 2.39907 [.016] P13_21 -.883138E-02 .024943 -.354060 [.723] P14_21 -.076361 .025309 -3.01711 [.003] P15_21 -.011648 .022049 -.528290 [.597] P16_21 .097427 .031002 3.14260 [.002] P17_21 .047684 .028988 1.64493 [.100] DI1_21 .145621 .050221 2.89960 [.004] DF1_21 -.676136E-02 .011778 -.574048 [.566] DI2_21 .028845 .070294 .410343 [.682] DF2_21 .011703 .011218 1.04322 [.297] DI3_21 .053199 .087474 .608173 [.543] DF3_21 .168528E-02 .010421 .161724 [.872] DI4_21 .044280 .082156 .538972 [.590] DF4_21 -.191120E-02 .010905 -.175255 [.861] S1_21 -.276905 .105038 -2.63623 [.008] S2_21 .146465 .048588 3.01440 [.003] S3_21 .046675 .059037 .790605 [.429] S4_21 .389843E-02 .060394 .064550 [.949] S5_21 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB21 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #22 ====================== EQUATIONS: EQ_NB22 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_22 -1.01124 .477370 -2.11836 [.034] LINE 45 Time Series Processor v4.4 (06 01/25/00 9:20 PM PAGE 7 A5_22 .137289 .120060 1.14350 [.253] A4_22 .158029 .190295 .830447 [.406] A3_22 .147672 .178504 .827275 [.408] A2_22 .306234 .127241 2.40672 [.016] P0_22 .209843 .097784 2.14598 [.032] P1_22 -.019731 .029985 -.658025 [.511] P2_22 -.687232E-02 .029694 -.231440 [.817] P3_22 .010378 .026123 .397276 [.691] P4_22 .014111 .025263 .558552 [.576] P5_22 .031177 .028716 1.08571 [.278] P6_22 -.064655 .025505 -2.53495 [.011] P7_22 -.045803 .027338 -1.67546 [.094] P8_22 -.017679 .025410 -.695747 [.487] P9_22 .011012 .024066 .457583 [.647] P10_22 .024787 .024335 1.01858 [.308] P11_22 .949033E-03 .024705 .038414 [.969] P12_22 .061356 .025575 2.39907 [.016] P13_22 -.883138E-02 .024943 -.354060 [.723] P14_22 -.076361 .025309 -3.01711 [.003] P15_22 -.011648 .022049 -.528290 [.597] P16_22 .097427 .031002 3.14260 [.002] P17_22 .047684 .028988 1.64493 [.100] DI1_22 .145621 .050221 2.89960 [.004] DF1_22 -.676136E-02 .011778 -.574048 [.566] DI2_22 .028845 .070294 .410343 [.682] DF2_22 .011703 .011218 1.04322 [.297] DI3_22 .053199 .087474 .608173 [.543] DF3_22 .168528E-02 .010421 .161724 [.872] DI4_22 .044280 .082156 .538972 [.590] DF4_22 -.191120E-02 .010905 -.175255 [.861] S1_22 -.276905 .105038 -2.63623 [.008] S2_22 .146465 .048588 3.01440 [.003] S3_22 .046675 .059037 .790605 [.429] S4_22 .389843E-02 .060394 .064550 [.949] S5_22 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB22 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #23 ====================== EQUATIONS: EQ_NB23 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_23 -1.01124 .477370 -2.11836 [.034] A5_23 .137289 .120060 1.14350 [.253] A4_23 .158029 .190295 .830447 [.406] A3_23 .147672 .178504 .827275 [.408] A2_23 .306234 .127241 2.40672 [.016] P0_23 .209843 .097784 2.14598 [.032] P1_23 -.019731 .029985 -.658025 [.511] P2_23 -.687232E-02 .029694 -.231440 [.817] P3_23 .010378 .026123 .397276 [.691] P4_23 .014111 .025263 .558552 [.576] P5_23 .031177 .028716 1.08571 [.278] P6_23 -.064655 .025505 -2.53495 [.011] P7_23 -.045803 .027338 -1.67546 [.094] P8_23 -.017679 .025410 -.695747 [.487] P9_23 .011012 .024066 .457583 [.647] P10_23 .024787 .024335 1.01858 [.308] P11_23 .949033E-03 .024705 .038414 [.969] P12_23 .061356 .025575 2.39907 [.016] P13_23 -.883138E-02 .024943 -.354060 [.723] P14_23 -.076361 .025309 -3.01711 [.003] P15_23 -.011648 .022049 -.528290 [.597] P16_23 .097427 .031002 3.14260 [.002] P17_23 .047684 .028988 1.64493 [.100] DI1_23 .145621 .050221 2.89960 [.004] DF1_23 -.676136E-02 .011778 -.574048 [.566] DI2_23 .028845 .070294 .410343 [.682] DF2_23 .011703 .011218 1.04322 [.297] DI3_23 .053199 .087474 .608173 [.543] DF3_23 .168528E-02 .010421 .161724 [.872] DI4_23 .044280 .082156 .538972 [.590] DF4_23 -.191120E-02 .010905 -.175255 [.861] S1_23 -.276905 .105038 -2.63623 [.008] S2_23 .146465 .048588 3.01440 [.003] S3_23 .046675 .059037 .790605 [.429] S4_23 .389843E-02 .060394 .064550 [.949] S5_23 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB23 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #24 ====================== EQUATIONS: EQ_NB24 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_24 -1.01124 .477370 -2.11836 [.034] A5_24 .137289 .120060 1.14350 [.253] A4_24 .158029 .190295 .830447 [.406] A3_24 .147672 .178504 .827275 [.408] A2_24 .306234 .127241 2.40672 [.016] P0_24 .209843 .097784 2.14598 [.032] P1_24 -.019731 .029985 -.658025 [.511] P2_24 -.687232E-02 .029694 -.231440 [.817] P3_24 .010378 .026123 .397276 [.691] P4_24 .014111 .025263 .558552 [.576] P5_24 .031177 .028716 1.08571 [.278] P6_24 -.064655 .025505 -2.53495 [.011] P7_24 -.045803 .027338 -1.67546 [.094] P8_24 -.017679 .025410 -.695747 [.487] P9_24 .011012 .024066 .457583 [.647] P10_24 .024787 .024335 1.01858 [.308] P11_24 .949033E-03 .024705 .038414 [.969] P12_24 .061356 .025575 2.39907 [.016] P13_24 -.883138E-02 .024943 -.354060 [.723] P14_24 -.076361 .025309 -3.01711 [.003] P15_24 -.011648 .022049 -.528290 [.597] P16_24 .097427 .031002 3.14260 [.002] P17_24 .047684 .028988 1.64493 [.100] DI1_24 .145621 .050221 2.89960 [.004] DF1_24 -.676136E-02 .011778 -.574048 [.566] DI2_24 .028845 .070294 .410343 [.682] DF2_24 .011703 .011218 1.04322 [.297] DI3_24 .053199 .087474 .608173 [.543] DF3_24 .168528E-02 .010421 .161724 [.872] DI4_24 .044280 .082156 .538972 [.590] DF4_24 -.191120E-02 .010905 -.175255 [.861] S1_24 -.276905 .105038 -2.63623 [.008] S2_24 .146465 .048588 3.01440 [.003] S3_24 .046675 .059037 .790605 [.429] S4_24 .389843E-02 .060394 .064550 [.949] S5_24 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB24 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650] INVESTOR #25 ====================== EQUATIONS: EQ_NB25 NOB 786 SBIC 900.834 LOGL -780.829 Standard Parameter Estimate Error t-statistic P-value C_25 -1.01124 .477370 -2.11836 [.034] A5_25 .137289 .120060 1.14350 [.253] A4_25 .158029 .190295 .830447 [.406] A3_25 .147672 .178504 .827275 [.408] A2_25 .306234 .127241 2.40672 [.016] P0_25 .209843 .097784 2.14598 [.032] P1_25 -.019731 .029985 -.658025 [.511] P2_25 -.687232E-02 .029694 -.231440 [.817] P3_25 .010378 .026123 .397276 [.691] P4_25 .014111 .025263 .558552 [.576] P5_25 .031177 .028716 1.08571 [.278] P6_25 -.064655 .025505 -2.53495 [.011] P7_25 -.045803 .027338 -1.67546 [.094] P8_25 -.017679 .025410 -.695747 [.487] P9_25 .011012 .024066 .457583 [.647] P10_25 .024787 .024335 1.01858 [.308] P11_25 .949033E-03 .024705 .038414 [.969] P12_25 .061356 .025575 2.39907 [.016] P13_25 -.883138E-02 .024943 -.354060 [.723] P14_25 -.076361 .025309 -3.01711 [.003] P15_25 -.011648 .022049 -.528290 [.597] P16_25 .097427 .031002 3.14260 [.002] P17_25 .047684 .028988 1.64493 [.100] DI1_25 .145621 .050221 2.89960 [.004] DF1_25 -.676136E-02 .011778 -.574048 [.566] DI2_25 .028845 .070294 .410343 [.682] DF2_25 .011703 .011218 1.04322 [.297] DI3_25 .053199 .087474 .608173 [.543] DF3_25 .168528E-02 .010421 .161724 [.872] DI4_25 .044280 .082156 .538972 [.590] DF4_25 -.191120E-02 .010905 -.175255 [.861] S1_25 -.276905 .105038 -2.63623 [.008] S2_25 .146465 .048588 3.01440 [.003] S3_25 .046675 .059037 .790605 [.429] S4_25 .389843E-02 .060394 .064550 [.949] S5_25 .038386 .030151 1.27311 [.203] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB25 Dependent variable: LPSE YMEAN 5.78094 S2 .447468 ARSQ .598665 SDEV 1.05591 S .668930 LMHET 7.55459 [.006] SSR 335.601 RSQ .616559 DW 1.90127 [<.650]