Equation 31 restricted ============ Method of estimation = Ordinary Least Squares Dependent variable: LPSE Number of observations: 503 Mean of dep. var. = 4.97392 LM het. test = .113348 [.736] Std. dev. of dep. var. = .891080 Durbin-Watson = 1.80143 [<.030] Sum of squared residuals = 240.455 Jarque-Bera test = 14.1995 [.001] Variance of residuals = .484789 Ramsey's RESET2 = 25.2510 [.000] Std. error of regression = .696268 F (zero slopes) = 54.3687 [.000] R-squared = .402328 Schwarz B.I.C. = 549.877 Adjusted R-squared = .395098 Log likelihood = -528.105 Estimated Standard Variable Coefficient Error t-statistic P-value LPRICE2 .204054 .064958 3.14134 ** [.002] LPRICE3 .153212 .108671 1.40987 [.159] LPRICE4 .379575 .110544 3.43371 ** [.001] LSUPPLY1 -.016685 .075351 -.221435 [.825] LSUPPLY2 .123654 .082064 1.50680 [.132] LSUPPLY3 .022845 .067732 .337289 [.736] LSUPPLY4 .137216 .044693 3.07018 ** [.002] Equation 32 unrestricted ============ Method of estimation = Ordinary Least Squares Dependent variable: LPSE Number of observations: 503 Mean of dep. var. = 4.97392 LM het. test = .142276E-02 [.970] Std. dev. of dep. var. = .891080 Durbin-Watson = 1.99650 [<.962] Sum of squared residuals = 188.882 Jarque-Bera test = 21.5921 [.000] Variance of residuals = .400174 Ramsey's RESET2 = .357432E-02 [.952] Std. error of regression = .632593 F (zero slopes) = 17.4689 [.000] R-squared = .526136 Schwarz B.I.C. = 563.809 Adjusted R-squared = .496017 Log likelihood = -467.390 Estimated Standard Variable Coefficient Error t-statistic P-value LPRICE2 .151619 .060542 2.50434 * [.013] LPRICE3 .230602 .103177 2.23503 * [.026] LPRICE4 .365391 .114212 3.19924 ** [.001] LSUPPLY1 -.093309 .092498 -1.00877 [.314] LSUPPLY2 .125861 .076757 1.63973 [.102] LSUPPLY3 -.010833 .064103 -.168989 [.866] LSUPPLY4 .175352 .043662 4.01613 ** [.000] C 4.22037 .697740 6.04863 ** [.000] LTNS -.301839 .074141 -4.07114 ** [.000] LSUPPLY1 0. 0. 0. [1.00] FOWNER1 -.171392E-02 .025185 -.068053 [.946] FOWNER2 .047370 .036351 1.30313 [.193] FOWNER3 -.018543 .028204 -.657457 [.511] FOWNER4 -.794298E-02 .046459 -.170966 [.864] FOWNER5 .193768 .129720 1.49374 [.136] FDUMMY1 -.112563 .044104 -2.55223 * [.011] FDUMMY2 -.077829 .031700 -2.45514 * [.014] FDUMMY3 .474470E-02 .027984 .169553 [.865] FDUMMY4 -.046496 .028338 -1.64076 [.102] FDUMMY5 .017903 .027579 .649155 [.517] FDUMMY6 -.068126 .035759 -1.90517 [.057] FDUMMY7 -.034832 .029790 -1.16924 [.243] FDUMMY8 .056262 .030136 1.86692 [.063] FDUMMY9 -.029182 .028141 -1.03699 [.300] FDUMMY10 -.836892E-02 .027173 -.307986 [.758] FDUMMY11 .019973 .028490 .701059 [.484] FDUMMY12 -.051756 .026985 -1.91799 [.056] FSTAT1 -.194234 .414633 -.468447 [.640] FSTAT2 .310433 .242929 1.27788 [.202] FSTAT3 .081261 .314273 .258568 [.796] FSTAT4 -.187620 .096204 -1.95023 [.052] F(24,472) Test Statistic: 5.369882, Upper tail area: .00000