INVESTOR #1 ===================== EQUATIONS: EQ_NB1 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_1 2.78133 .555400 5.00780 [.000] A5_1 .115661 .098855 1.17000 [.242] A4_1 .131327 .192125 .683550 [.494] A3_1 .247756 .187871 1.31875 [.187] A2_1 .183269 .134269 1.36494 [.172] P0_1 -.043800 .023748 -1.84434 [.065] P1_1 -.016821 .025564 -.657988 [.511] P2_1 .026006 .029783 .873186 [.383] P3_1 -.055908 .026827 -2.08399 [.037] P4_1 -.059204 .031822 -1.86047 [.063] P5_1 -.348423E-02 .036141 -.096408 [.923] P6_1 -.057740 .038411 -1.50323 [.133] P7_1 -.079792 .027068 -2.94785 [.003] P8_1 -.031436 .026165 -1.20145 [.230] P9_1 -.032822 .026809 -1.22428 [.221] P10_1 .031235 .026981 1.15764 [.247] P11_1 -.061443 .031134 -1.97350 [.048] P12_1 -.043583 .030103 -1.44780 [.148] P13_1 .542085E-02 .026147 .207321 [.836] P14_1 -.039735 .026667 -1.49003 [.136] P15_1 -.011172 .025716 -.434436 [.664] P16_1 .635989E-02 .029097 .218573 [.827] P17_1 -.035548 .027328 -1.30077 [.193] P18_1 .025114 .034934 .718907 [.472] P19_1 .030281 .063089 .479975 [.631] P20_1 .983082E-02 .023195 .423828 [.672] P21_1 .074864 .027765 2.69634 [.007] DI1_1 .032501 .035569 .913764 [.361] DF1_1 .723783E-03 .014382 .050327 [.960] DI2_1 .859532E-02 .059525 .144398 [.885] DF2_1 .012759 .757777E-02 1.68372 [.092] DI3_1 -.033899 .068327 -.496128 [.620] DF3_1 .012404 .710941E-02 1.74470 [.081] DI4_1 .036699 .063534 .577626 [.564] DF4_1 .014823 .616033E-02 2.40612 [.016] S1_1 -.171589 .075871 -2.26158 [.024] S2_1 .144095 .068571 2.10140 [.036] S3_1 .021483 .058451 .367537 [.713] S4_1 -.022677 .053866 -.420984 [.674] S5_1 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB1 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #2 ===================== EQUATIONS: EQ_NB2 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_2 2.78133 .555400 5.00780 [.000] A5_2 .115661 .098855 1.17000 [.242] A4_2 .131327 .192125 .683550 [.494] A3_2 .247756 .187871 1.31875 [.187] A2_2 .183269 .134269 1.36494 [.172] P0_2 -.043800 .023748 -1.84434 [.065] P1_2 -.016821 .025564 -.657988 [.511] P2_2 .026006 .029783 .873186 [.383] P3_2 -.055908 .026827 -2.08399 [.037] P4_2 -.059204 .031822 -1.86047 [.063] P5_2 -.348423E-02 .036141 -.096408 [.923] P6_2 -.057740 .038411 -1.50323 [.133] P7_2 -.079792 .027068 -2.94785 [.003] P8_2 -.031436 .026165 -1.20145 [.230] P9_2 -.032822 .026809 -1.22428 [.221] P10_2 .031235 .026981 1.15764 [.247] P11_2 -.061443 .031134 -1.97350 [.048] P12_2 -.043583 .030103 -1.44780 [.148] P13_2 .542085E-02 .026147 .207321 [.836] P14_2 -.039735 .026667 -1.49003 [.136] P15_2 -.011172 .025716 -.434436 [.664] P16_2 .635989E-02 .029097 .218573 [.827] P17_2 -.035548 .027328 -1.30077 [.193] P18_2 .025114 .034934 .718907 [.472] P19_2 .030281 .063089 .479975 [.631] P20_2 .983082E-02 .023195 .423828 [.672] P21_2 .074864 .027765 2.69634 [.007] DI1_2 .032501 .035569 .913764 [.361] DF1_2 .723783E-03 .014382 .050327 [.960] DI2_2 .859532E-02 .059525 .144398 [.885] DF2_2 .012759 .757777E-02 1.68372 [.092] DI3_2 -.033899 .068327 -.496128 [.620] DF3_2 .012404 .710941E-02 1.74470 [.081] DI4_2 .036699 .063534 .577626 [.564] DF4_2 .014823 .616033E-02 2.40612 [.016] S1_2 -.171589 .075871 -2.26158 [.024] S2_2 .144095 .068571 2.10140 [.036] S3_2 .021483 .058451 .367537 [.713] S4_2 -.022677 .053866 -.420984 [.674] S5_2 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB2 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #3 ===================== EQUATIONS: EQ_NB3 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_3 2.78133 .555400 5.00780 [.000] A5_3 .115661 .098855 1.17000 [.242] A4_3 .131327 .192125 .683550 [.494] A3_3 .247756 .187871 1.31875 [.187] A2_3 .183269 .134269 1.36494 [.172] P0_3 -.043800 .023748 -1.84434 [.065] P1_3 -.016821 .025564 -.657988 [.511] P2_3 .026006 .029783 .873186 [.383] P3_3 -.055908 .026827 -2.08399 [.037] P4_3 -.059204 .031822 -1.86047 [.063] P5_3 -.348423E-02 .036141 -.096408 [.923] P6_3 -.057740 .038411 -1.50323 [.133] P7_3 -.079792 .027068 -2.94785 [.003] P8_3 -.031436 .026165 -1.20145 [.230] P9_3 -.032822 .026809 -1.22428 [.221] P10_3 .031235 .026981 1.15764 [.247] P11_3 -.061443 .031134 -1.97350 [.048] P12_3 -.043583 .030103 -1.44780 [.148] P13_3 .542085E-02 .026147 .207321 [.836] P14_3 -.039735 .026667 -1.49003 [.136] P15_3 -.011172 .025716 -.434436 [.664] P16_3 .635989E-02 .029097 .218573 [.827] P17_3 -.035548 .027328 -1.30077 [.193] P18_3 .025114 .034934 .718907 [.472] P19_3 .030281 .063089 .479975 [.631] P20_3 .983082E-02 .023195 .423828 [.672] P21_3 .074864 .027765 2.69634 [.007] DI1_3 .032501 .035569 .913764 [.361] DF1_3 .723783E-03 .014382 .050327 [.960] DI2_3 .859532E-02 .059525 .144398 [.885] DF2_3 .012759 .757777E-02 1.68372 [.092] DI3_3 -.033899 .068327 -.496128 [.620] DF3_3 .012404 .710941E-02 1.74470 [.081] DI4_3 .036699 .063534 .577626 [.564] DF4_3 .014823 .616033E-02 2.40612 [.016] S1_3 -.171589 .075871 -2.26158 [.024] S2_3 .144095 .068571 2.10140 [.036] S3_3 .021483 .058451 .367537 [.713] S4_3 -.022677 .053866 -.420984 [.674] S5_3 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB3 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #4 ===================== EQUATIONS: EQ_NB4 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_4 2.78133 .555400 5.00780 [.000] A5_4 .115661 .098855 1.17000 [.242] A4_4 .131327 .192125 .683550 [.494] A3_4 .247756 .187871 1.31875 [.187] A2_4 .183269 .134269 1.36494 [.172] P0_4 -.043800 .023748 -1.84434 [.065] P1_4 -.016821 .025564 -.657988 [.511] P2_4 .026006 .029783 .873186 [.383] P3_4 -.055908 .026827 -2.08399 [.037] P4_4 -.059204 .031822 -1.86047 [.063] P5_4 -.348423E-02 .036141 -.096408 [.923] P6_4 -.057740 .038411 -1.50323 [.133] P7_4 -.079792 .027068 -2.94785 [.003] P8_4 -.031436 .026165 -1.20145 [.230] P9_4 -.032822 .026809 -1.22428 [.221] P10_4 .031235 .026981 1.15764 [.247] P11_4 -.061443 .031134 -1.97350 [.048] P12_4 -.043583 .030103 -1.44780 [.148] P13_4 .542085E-02 .026147 .207321 [.836] P14_4 -.039735 .026667 -1.49003 [.136] P15_4 -.011172 .025716 -.434436 [.664] P16_4 .635989E-02 .029097 .218573 [.827] P17_4 -.035548 .027328 -1.30077 [.193] P18_4 .025114 .034934 .718907 [.472] P19_4 .030281 .063089 .479975 [.631] P20_4 .983082E-02 .023195 .423828 [.672] P21_4 .074864 .027765 2.69634 [.007] DI1_4 .032501 .035569 .913764 [.361] DF1_4 .723783E-03 .014382 .050327 [.960] DI2_4 .859532E-02 .059525 .144398 [.885] DF2_4 .012759 .757777E-02 1.68372 [.092] DI3_4 -.033899 .068327 -.496128 [.620] DF3_4 .012404 .710941E-02 1.74470 [.081] DI4_4 .036699 .063534 .577626 [.564] DF4_4 .014823 .616033E-02 2.40612 [.016] S1_4 -.171589 .075871 -2.26158 [.024] S2_4 .144095 .068571 2.10140 [.036] S3_4 .021483 .058451 .367537 [.713] S4_4 -.022677 .053866 -.420984 [.674] S5_4 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB4 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #5 ===================== EQUATIONS: EQ_NB5 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_5 2.78133 .555400 5.00780 [.000] A5_5 .115661 .098855 1.17000 [.242] A4_5 .131327 .192125 .683550 [.494] A3_5 .247756 .187871 1.31875 [.187] A2_5 .183269 .134269 1.36494 [.172] P0_5 -.043800 .023748 -1.84434 [.065] P1_5 -.016821 .025564 -.657988 [.511] P2_5 .026006 .029783 .873186 [.383] P3_5 -.055908 .026827 -2.08399 [.037] P4_5 -.059204 .031822 -1.86047 [.063] P5_5 -.348423E-02 .036141 -.096408 [.923] P6_5 -.057740 .038411 -1.50323 [.133] P7_5 -.079792 .027068 -2.94785 [.003] P8_5 -.031436 .026165 -1.20145 [.230] P9_5 -.032822 .026809 -1.22428 [.221] P10_5 .031235 .026981 1.15764 [.247] P11_5 -.061443 .031134 -1.97350 [.048] P12_5 -.043583 .030103 -1.44780 [.148] P13_5 .542085E-02 .026147 .207321 [.836] P14_5 -.039735 .026667 -1.49003 [.136] P15_5 -.011172 .025716 -.434436 [.664] P16_5 .635989E-02 .029097 .218573 [.827] P17_5 -.035548 .027328 -1.30077 [.193] P18_5 .025114 .034934 .718907 [.472] P19_5 .030281 .063089 .479975 [.631] P20_5 .983082E-02 .023195 .423828 [.672] P21_5 .074864 .027765 2.69634 [.007] DI1_5 .032501 .035569 .913764 [.361] DF1_5 .723783E-03 .014382 .050327 [.960] DI2_5 .859532E-02 .059525 .144398 [.885] DF2_5 .012759 .757777E-02 1.68372 [.092] DI3_5 -.033899 .068327 -.496128 [.620] DF3_5 .012404 .710941E-02 1.74470 [.081] DI4_5 .036699 .063534 .577626 [.564] DF4_5 .014823 .616033E-02 2.40612 [.016] S1_5 -.171589 .075871 -2.26158 [.024] S2_5 .144095 .068571 2.10140 [.036] S3_5 .021483 .058451 .367537 [.713] S4_5 -.022677 .053866 -.420984 [.674] S5_5 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB5 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #6 ===================== EQUATIONS: EQ_NB6 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_6 2.78133 .555400 5.00780 [.000] A5_6 .115661 .098855 1.17000 [.242] A4_6 .131327 .192125 .683550 [.494] A3_6 .247756 .187871 1.31875 [.187] A2_6 .183269 .134269 1.36494 [.172] P0_6 -.043800 .023748 -1.84434 [.065] P1_6 -.016821 .025564 -.657988 [.511] P2_6 .026006 .029783 .873186 [.383] P3_6 -.055908 .026827 -2.08399 [.037] P4_6 -.059204 .031822 -1.86047 [.063] P5_6 -.348423E-02 .036141 -.096408 [.923] P6_6 -.057740 .038411 -1.50323 [.133] P7_6 -.079792 .027068 -2.94785 [.003] P8_6 -.031436 .026165 -1.20145 [.230] P9_6 -.032822 .026809 -1.22428 [.221] P10_6 .031235 .026981 1.15764 [.247] P11_6 -.061443 .031134 -1.97350 [.048] P12_6 -.043583 .030103 -1.44780 [.148] P13_6 .542085E-02 .026147 .207321 [.836] P14_6 -.039735 .026667 -1.49003 [.136] P15_6 -.011172 .025716 -.434436 [.664] P16_6 .635989E-02 .029097 .218573 [.827] P17_6 -.035548 .027328 -1.30077 [.193] P18_6 .025114 .034934 .718907 [.472] P19_6 .030281 .063089 .479975 [.631] P20_6 .983082E-02 .023195 .423828 [.672] P21_6 .074864 .027765 2.69634 [.007] DI1_6 .032501 .035569 .913764 [.361] DF1_6 .723783E-03 .014382 .050327 [.960] DI2_6 .859532E-02 .059525 .144398 [.885] DF2_6 .012759 .757777E-02 1.68372 [.092] DI3_6 -.033899 .068327 -.496128 [.620] DF3_6 .012404 .710941E-02 1.74470 [.081] DI4_6 .036699 .063534 .577626 [.564] DF4_6 .014823 .616033E-02 2.40612 [.016] S1_6 -.171589 .075871 -2.26158 [.024] S2_6 .144095 .068571 2.10140 [.036] S3_6 .021483 .058451 .367537 [.713] S4_6 -.022677 .053866 -.420984 [.674] S5_6 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB6 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #7 ===================== EQUATIONS: EQ_NB7 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_7 2.78133 .555400 5.00780 [.000] A5_7 .115661 .098855 1.17000 [.242] A4_7 .131327 .192125 .683550 [.494] A3_7 .247756 .187871 1.31875 [.187] A2_7 .183269 .134269 1.36494 [.172] P0_7 -.043800 .023748 -1.84434 [.065] P1_7 -.016821 .025564 -.657988 [.511] P2_7 .026006 .029783 .873186 [.383] P3_7 -.055908 .026827 -2.08399 [.037] P4_7 -.059204 .031822 -1.86047 [.063] P5_7 -.348423E-02 .036141 -.096408 [.923] P6_7 -.057740 .038411 -1.50323 [.133] P7_7 -.079792 .027068 -2.94785 [.003] P8_7 -.031436 .026165 -1.20145 [.230] P9_7 -.032822 .026809 -1.22428 [.221] P10_7 .031235 .026981 1.15764 [.247] P11_7 -.061443 .031134 -1.97350 [.048] P12_7 -.043583 .030103 -1.44780 [.148] P13_7 .542085E-02 .026147 .207321 [.836] P14_7 -.039735 .026667 -1.49003 [.136] P15_7 -.011172 .025716 -.434436 [.664] P16_7 .635989E-02 .029097 .218573 [.827] P17_7 -.035548 .027328 -1.30077 [.193] P18_7 .025114 .034934 .718907 [.472] P19_7 .030281 .063089 .479975 [.631] P20_7 .983082E-02 .023195 .423828 [.672] P21_7 .074864 .027765 2.69634 [.007] DI1_7 .032501 .035569 .913764 [.361] DF1_7 .723783E-03 .014382 .050327 [.960] DI2_7 .859532E-02 .059525 .144398 [.885] DF2_7 .012759 .757777E-02 1.68372 [.092] DI3_7 -.033899 .068327 -.496128 [.620] DF3_7 .012404 .710941E-02 1.74470 [.081] DI4_7 .036699 .063534 .577626 [.564] DF4_7 .014823 .616033E-02 2.40612 [.016] S1_7 -.171589 .075871 -2.26158 [.024] S2_7 .144095 .068571 2.10140 [.036] S3_7 .021483 .058451 .367537 [.713] S4_7 -.022677 .053866 -.420984 [.674] S5_7 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB7 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #8 ===================== EQUATIONS: EQ_NB8 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_8 2.78133 .555400 5.00780 [.000] A5_8 .115661 .098855 1.17000 [.242] A4_8 .131327 .192125 .683550 [.494] A3_8 .247756 .187871 1.31875 [.187] A2_8 .183269 .134269 1.36494 [.172] P0_8 -.043800 .023748 -1.84434 [.065] P1_8 -.016821 .025564 -.657988 [.511] P2_8 .026006 .029783 .873186 [.383] P3_8 -.055908 .026827 -2.08399 [.037] P4_8 -.059204 .031822 -1.86047 [.063] P5_8 -.348423E-02 .036141 -.096408 [.923] P6_8 -.057740 .038411 -1.50323 [.133] P7_8 -.079792 .027068 -2.94785 [.003] P8_8 -.031436 .026165 -1.20145 [.230] P9_8 -.032822 .026809 -1.22428 [.221] P10_8 .031235 .026981 1.15764 [.247] P11_8 -.061443 .031134 -1.97350 [.048] P12_8 -.043583 .030103 -1.44780 [.148] P13_8 .542085E-02 .026147 .207321 [.836] P14_8 -.039735 .026667 -1.49003 [.136] P15_8 -.011172 .025716 -.434436 [.664] P16_8 .635989E-02 .029097 .218573 [.827] P17_8 -.035548 .027328 -1.30077 [.193] P18_8 .025114 .034934 .718907 [.472] P19_8 .030281 .063089 .479975 [.631] P20_8 .983082E-02 .023195 .423828 [.672] P21_8 .074864 .027765 2.69634 [.007] DI1_8 .032501 .035569 .913764 [.361] DF1_8 .723783E-03 .014382 .050327 [.960] DI2_8 .859532E-02 .059525 .144398 [.885] DF2_8 .012759 .757777E-02 1.68372 [.092] DI3_8 -.033899 .068327 -.496128 [.620] DF3_8 .012404 .710941E-02 1.74470 [.081] DI4_8 .036699 .063534 .577626 [.564] DF4_8 .014823 .616033E-02 2.40612 [.016] S1_8 -.171589 .075871 -2.26158 [.024] S2_8 .144095 .068571 2.10140 [.036] S3_8 .021483 .058451 .367537 [.713] S4_8 -.022677 .053866 -.420984 [.674] S5_8 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB8 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #9 ===================== EQUATIONS: EQ_NB9 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_9 2.78133 .555400 5.00780 [.000] A5_9 .115661 .098855 1.17000 [.242] A4_9 .131327 .192125 .683550 [.494] A3_9 .247756 .187871 1.31875 [.187] A2_9 .183269 .134269 1.36494 [.172] P0_9 -.043800 .023748 -1.84434 [.065] P1_9 -.016821 .025564 -.657988 [.511] P2_9 .026006 .029783 .873186 [.383] P3_9 -.055908 .026827 -2.08399 [.037] P4_9 -.059204 .031822 -1.86047 [.063] P5_9 -.348423E-02 .036141 -.096408 [.923] P6_9 -.057740 .038411 -1.50323 [.133] P7_9 -.079792 .027068 -2.94785 [.003] P8_9 -.031436 .026165 -1.20145 [.230] P9_9 -.032822 .026809 -1.22428 [.221] P10_9 .031235 .026981 1.15764 [.247] P11_9 -.061443 .031134 -1.97350 [.048] P12_9 -.043583 .030103 -1.44780 [.148] P13_9 .542085E-02 .026147 .207321 [.836] P14_9 -.039735 .026667 -1.49003 [.136] P15_9 -.011172 .025716 -.434436 [.664] P16_9 .635989E-02 .029097 .218573 [.827] P17_9 -.035548 .027328 -1.30077 [.193] P18_9 .025114 .034934 .718907 [.472] P19_9 .030281 .063089 .479975 [.631] P20_9 .983082E-02 .023195 .423828 [.672] P21_9 .074864 .027765 2.69634 [.007] DI1_9 .032501 .035569 .913764 [.361] DF1_9 .723783E-03 .014382 .050327 [.960] DI2_9 .859532E-02 .059525 .144398 [.885] DF2_9 .012759 .757777E-02 1.68372 [.092] DI3_9 -.033899 .068327 -.496128 [.620] DF3_9 .012404 .710941E-02 1.74470 [.081] DI4_9 .036699 .063534 .577626 [.564] DF4_9 .014823 .616033E-02 2.40612 [.016] S1_9 -.171589 .075871 -2.26158 [.024] S2_9 .144095 .068571 2.10140 [.036] S3_9 .021483 .058451 .367537 [.713] S4_9 -.022677 .053866 -.420984 [.674] S5_9 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB9 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #10 ====================== EQUATIONS: EQ_NB10 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_10 2.78133 .555400 5.00780 [.000] A5_10 .115661 .098855 1.17000 [.242] A4_10 .131327 .192125 .683550 [.494] A3_10 .247756 .187871 1.31875 [.187] A2_10 .183269 .134269 1.36494 [.172] P0_10 -.043800 .023748 -1.84434 [.065] P1_10 -.016821 .025564 -.657988 [.511] P2_10 .026006 .029783 .873186 [.383] P3_10 -.055908 .026827 -2.08399 [.037] P4_10 -.059204 .031822 -1.86047 [.063] P5_10 -.348423E-02 .036141 -.096408 [.923] P6_10 -.057740 .038411 -1.50323 [.133] P7_10 -.079792 .027068 -2.94785 [.003] P8_10 -.031436 .026165 -1.20145 [.230] P9_10 -.032822 .026809 -1.22428 [.221] P10_10 .031235 .026981 1.15764 [.247] P11_10 -.061443 .031134 -1.97350 [.048] P12_10 -.043583 .030103 -1.44780 [.148] P13_10 .542085E-02 .026147 .207321 [.836] P14_10 -.039735 .026667 -1.49003 [.136] P15_10 -.011172 .025716 -.434436 [.664] P16_10 .635989E-02 .029097 .218573 [.827] P17_10 -.035548 .027328 -1.30077 [.193] P18_10 .025114 .034934 .718907 [.472] P19_10 .030281 .063089 .479975 [.631] P20_10 .983082E-02 .023195 .423828 [.672] P21_10 .074864 .027765 2.69634 [.007] DI1_10 .032501 .035569 .913764 [.361] DF1_10 .723783E-03 .014382 .050327 [.960] DI2_10 .859532E-02 .059525 .144398 [.885] DF2_10 .012759 .757777E-02 1.68372 [.092] DI3_10 -.033899 .068327 -.496128 [.620] DF3_10 .012404 .710941E-02 1.74470 [.081] DI4_10 .036699 .063534 .577626 [.564] DF4_10 .014823 .616033E-02 2.40612 [.016] S1_10 -.171589 .075871 -2.26158 [.024] S2_10 .144095 .068571 2.10140 [.036] S3_10 .021483 .058451 .367537 [.713] S4_10 -.022677 .053866 -.420984 [.674] S5_10 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB10 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #11 ====================== EQUATIONS: EQ_NB11 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_11 2.78133 .555400 5.00780 [.000] A5_11 .115661 .098855 1.17000 [.242] A4_11 .131327 .192125 .683550 [.494] A3_11 .247756 .187871 1.31875 [.187] A2_11 .183269 .134269 1.36494 [.172] P0_11 -.043800 .023748 -1.84434 [.065] P1_11 -.016821 .025564 -.657988 [.511] P2_11 .026006 .029783 .873186 [.383] P3_11 -.055908 .026827 -2.08399 [.037] P4_11 -.059204 .031822 -1.86047 [.063] P5_11 -.348423E-02 .036141 -.096408 [.923] P6_11 -.057740 .038411 -1.50323 [.133] P7_11 -.079792 .027068 -2.94785 [.003] P8_11 -.031436 .026165 -1.20145 [.230] P9_11 -.032822 .026809 -1.22428 [.221] P10_11 .031235 .026981 1.15764 [.247] P11_11 -.061443 .031134 -1.97350 [.048] P12_11 -.043583 .030103 -1.44780 [.148] P13_11 .542085E-02 .026147 .207321 [.836] P14_11 -.039735 .026667 -1.49003 [.136] P15_11 -.011172 .025716 -.434436 [.664] P16_11 .635989E-02 .029097 .218573 [.827] P17_11 -.035548 .027328 -1.30077 [.193] P18_11 .025114 .034934 .718907 [.472] P19_11 .030281 .063089 .479975 [.631] P20_11 .983082E-02 .023195 .423828 [.672] P21_11 .074864 .027765 2.69634 [.007] DI1_11 .032501 .035569 .913764 [.361] DF1_11 .723783E-03 .014382 .050327 [.960] DI2_11 .859532E-02 .059525 .144398 [.885] DF2_11 .012759 .757777E-02 1.68372 [.092] DI3_11 -.033899 .068327 -.496128 [.620] DF3_11 .012404 .710941E-02 1.74470 [.081] DI4_11 .036699 .063534 .577626 [.564] DF4_11 .014823 .616033E-02 2.40612 [.016] S1_11 -.171589 .075871 -2.26158 [.024] S2_11 .144095 .068571 2.10140 [.036] S3_11 .021483 .058451 .367537 [.713] S4_11 -.022677 .053866 -.420984 [.674] S5_11 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB11 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #12 ====================== EQUATIONS: EQ_NB12 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_12 2.78133 .555400 5.00780 [.000] A5_12 .115661 .098855 1.17000 [.242] A4_12 .131327 .192125 .683550 [.494] A3_12 .247756 .187871 1.31875 [.187] A2_12 .183269 .134269 1.36494 [.172] P0_12 -.043800 .023748 -1.84434 [.065] P1_12 -.016821 .025564 -.657988 [.511] P2_12 .026006 .029783 .873186 [.383] P3_12 -.055908 .026827 -2.08399 [.037] P4_12 -.059204 .031822 -1.86047 [.063] P5_12 -.348423E-02 .036141 -.096408 [.923] P6_12 -.057740 .038411 -1.50323 [.133] P7_12 -.079792 .027068 -2.94785 [.003] P8_12 -.031436 .026165 -1.20145 [.230] P9_12 -.032822 .026809 -1.22428 [.221] P10_12 .031235 .026981 1.15764 [.247] P11_12 -.061443 .031134 -1.97350 [.048] P12_12 -.043583 .030103 -1.44780 [.148] P13_12 .542085E-02 .026147 .207321 [.836] P14_12 -.039735 .026667 -1.49003 [.136] P15_12 -.011172 .025716 -.434436 [.664] P16_12 .635989E-02 .029097 .218573 [.827] P17_12 -.035548 .027328 -1.30077 [.193] P18_12 .025114 .034934 .718907 [.472] P19_12 .030281 .063089 .479975 [.631] P20_12 .983082E-02 .023195 .423828 [.672] P21_12 .074864 .027765 2.69634 [.007] DI1_12 .032501 .035569 .913764 [.361] DF1_12 .723783E-03 .014382 .050327 [.960] DI2_12 .859532E-02 .059525 .144398 [.885] DF2_12 .012759 .757777E-02 1.68372 [.092] DI3_12 -.033899 .068327 -.496128 [.620] DF3_12 .012404 .710941E-02 1.74470 [.081] DI4_12 .036699 .063534 .577626 [.564] DF4_12 .014823 .616033E-02 2.40612 [.016] S1_12 -.171589 .075871 -2.26158 [.024] S2_12 .144095 .068571 2.10140 [.036] S3_12 .021483 .058451 .367537 [.713] S4_12 -.022677 .053866 -.420984 [.674] S5_12 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB12 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #13 ====================== EQUATIONS: EQ_NB13 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_13 2.78133 .555400 5.00780 [.000] A5_13 .115661 .098855 1.17000 [.242] A4_13 .131327 .192125 .683550 [.494] A3_13 .247756 .187871 1.31875 [.187] A2_13 .183269 .134269 1.36494 [.172] P0_13 -.043800 .023748 -1.84434 [.065] P1_13 -.016821 .025564 -.657988 [.511] P2_13 .026006 .029783 .873186 [.383] P3_13 -.055908 .026827 -2.08399 [.037] P4_13 -.059204 .031822 -1.86047 [.063] P5_13 -.348423E-02 .036141 -.096408 [.923] P6_13 -.057740 .038411 -1.50323 [.133] P7_13 -.079792 .027068 -2.94785 [.003] P8_13 -.031436 .026165 -1.20145 [.230] P9_13 -.032822 .026809 -1.22428 [.221] P10_13 .031235 .026981 1.15764 [.247] P11_13 -.061443 .031134 -1.97350 [.048] P12_13 -.043583 .030103 -1.44780 [.148] P13_13 .542085E-02 .026147 .207321 [.836] P14_13 -.039735 .026667 -1.49003 [.136] P15_13 -.011172 .025716 -.434436 [.664] P16_13 .635989E-02 .029097 .218573 [.827] P17_13 -.035548 .027328 -1.30077 [.193] P18_13 .025114 .034934 .718907 [.472] P19_13 .030281 .063089 .479975 [.631] P20_13 .983082E-02 .023195 .423828 [.672] P21_13 .074864 .027765 2.69634 [.007] DI1_13 .032501 .035569 .913764 [.361] DF1_13 .723783E-03 .014382 .050327 [.960] DI2_13 .859532E-02 .059525 .144398 [.885] DF2_13 .012759 .757777E-02 1.68372 [.092] DI3_13 -.033899 .068327 -.496128 [.620] DF3_13 .012404 .710941E-02 1.74470 [.081] DI4_13 .036699 .063534 .577626 [.564] DF4_13 .014823 .616033E-02 2.40612 [.016] S1_13 -.171589 .075871 -2.26158 [.024] S2_13 .144095 .068571 2.10140 [.036] S3_13 .021483 .058451 .367537 [.713] S4_13 -.022677 .053866 -.420984 [.674] S5_13 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB13 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #14 ====================== EQUATIONS: EQ_NB14 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_14 2.78133 .555400 5.00780 [.000] A5_14 .115661 .098855 1.17000 [.242] A4_14 .131327 .192125 .683550 [.494] A3_14 .247756 .187871 1.31875 [.187] A2_14 .183269 .134269 1.36494 [.172] P0_14 -.043800 .023748 -1.84434 [.065] P1_14 -.016821 .025564 -.657988 [.511] P2_14 .026006 .029783 .873186 [.383] P3_14 -.055908 .026827 -2.08399 [.037] P4_14 -.059204 .031822 -1.86047 [.063] P5_14 -.348423E-02 .036141 -.096408 [.923] P6_14 -.057740 .038411 -1.50323 [.133] P7_14 -.079792 .027068 -2.94785 [.003] P8_14 -.031436 .026165 -1.20145 [.230] P9_14 -.032822 .026809 -1.22428 [.221] P10_14 .031235 .026981 1.15764 [.247] P11_14 -.061443 .031134 -1.97350 [.048] P12_14 -.043583 .030103 -1.44780 [.148] P13_14 .542085E-02 .026147 .207321 [.836] P14_14 -.039735 .026667 -1.49003 [.136] P15_14 -.011172 .025716 -.434436 [.664] P16_14 .635989E-02 .029097 .218573 [.827] P17_14 -.035548 .027328 -1.30077 [.193] P18_14 .025114 .034934 .718907 [.472] P19_14 .030281 .063089 .479975 [.631] P20_14 .983082E-02 .023195 .423828 [.672] P21_14 .074864 .027765 2.69634 [.007] DI1_14 .032501 .035569 .913764 [.361] DF1_14 .723783E-03 .014382 .050327 [.960] DI2_14 .859532E-02 .059525 .144398 [.885] DF2_14 .012759 .757777E-02 1.68372 [.092] DI3_14 -.033899 .068327 -.496128 [.620] DF3_14 .012404 .710941E-02 1.74470 [.081] DI4_14 .036699 .063534 .577626 [.564] DF4_14 .014823 .616033E-02 2.40612 [.016] S1_14 -.171589 .075871 -2.26158 [.024] S2_14 .144095 .068571 2.10140 [.036] S3_14 .021483 .058451 .367537 [.713] S4_14 -.022677 .053866 -.420984 [.674] S5_14 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB14 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #15 ====================== EQUATIONS: EQ_NB15 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_15 2.78133 .555400 5.00780 [.000] A5_15 .115661 .098855 1.17000 [.242] A4_15 .131327 .192125 .683550 [.494] A3_15 .247756 .187871 1.31875 [.187] A2_15 .183269 .134269 1.36494 [.172] P0_15 -.043800 .023748 -1.84434 [.065] P1_15 -.016821 .025564 -.657988 [.511] P2_15 .026006 .029783 .873186 [.383] P3_15 -.055908 .026827 -2.08399 [.037] P4_15 -.059204 .031822 -1.86047 [.063] P5_15 -.348423E-02 .036141 -.096408 [.923] P6_15 -.057740 .038411 -1.50323 [.133] P7_15 -.079792 .027068 -2.94785 [.003] P8_15 -.031436 .026165 -1.20145 [.230] P9_15 -.032822 .026809 -1.22428 [.221] P10_15 .031235 .026981 1.15764 [.247] P11_15 -.061443 .031134 -1.97350 [.048] P12_15 -.043583 .030103 -1.44780 [.148] P13_15 .542085E-02 .026147 .207321 [.836] P14_15 -.039735 .026667 -1.49003 [.136] P15_15 -.011172 .025716 -.434436 [.664] P16_15 .635989E-02 .029097 .218573 [.827] P17_15 -.035548 .027328 -1.30077 [.193] P18_15 .025114 .034934 .718907 [.472] P19_15 .030281 .063089 .479975 [.631] P20_15 .983082E-02 .023195 .423828 [.672] P21_15 .074864 .027765 2.69634 [.007] DI1_15 .032501 .035569 .913764 [.361] DF1_15 .723783E-03 .014382 .050327 [.960] DI2_15 .859532E-02 .059525 .144398 [.885] DF2_15 .012759 .757777E-02 1.68372 [.092] DI3_15 -.033899 .068327 -.496128 [.620] DF3_15 .012404 .710941E-02 1.74470 [.081] DI4_15 .036699 .063534 .577626 [.564] DF4_15 .014823 .616033E-02 2.40612 [.016] S1_15 -.171589 .075871 -2.26158 [.024] S2_15 .144095 .068571 2.10140 [.036] S3_15 .021483 .058451 .367537 [.713] S4_15 -.022677 .053866 -.420984 [.674] S5_15 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB15 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #16 ====================== EQUATIONS: EQ_NB16 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_16 2.78133 .555400 5.00780 [.000] A5_16 .115661 .098855 1.17000 [.242] A4_16 .131327 .192125 .683550 [.494] A3_16 .247756 .187871 1.31875 [.187] A2_16 .183269 .134269 1.36494 [.172] P0_16 -.043800 .023748 -1.84434 [.065] P1_16 -.016821 .025564 -.657988 [.511] P2_16 .026006 .029783 .873186 [.383] P3_16 -.055908 .026827 -2.08399 [.037] P4_16 -.059204 .031822 -1.86047 [.063] P5_16 -.348423E-02 .036141 -.096408 [.923] P6_16 -.057740 .038411 -1.50323 [.133] P7_16 -.079792 .027068 -2.94785 [.003] P8_16 -.031436 .026165 -1.20145 [.230] P9_16 -.032822 .026809 -1.22428 [.221] P10_16 .031235 .026981 1.15764 [.247] P11_16 -.061443 .031134 -1.97350 [.048] P12_16 -.043583 .030103 -1.44780 [.148] P13_16 .542085E-02 .026147 .207321 [.836] P14_16 -.039735 .026667 -1.49003 [.136] P15_16 -.011172 .025716 -.434436 [.664] P16_16 .635989E-02 .029097 .218573 [.827] P17_16 -.035548 .027328 -1.30077 [.193] P18_16 .025114 .034934 .718907 [.472] P19_16 .030281 .063089 .479975 [.631] P20_16 .983082E-02 .023195 .423828 [.672] P21_16 .074864 .027765 2.69634 [.007] DI1_16 .032501 .035569 .913764 [.361] DF1_16 .723783E-03 .014382 .050327 [.960] DI2_16 .859532E-02 .059525 .144398 [.885] DF2_16 .012759 .757777E-02 1.68372 [.092] DI3_16 -.033899 .068327 -.496128 [.620] DF3_16 .012404 .710941E-02 1.74470 [.081] DI4_16 .036699 .063534 .577626 [.564] DF4_16 .014823 .616033E-02 2.40612 [.016] S1_16 -.171589 .075871 -2.26158 [.024] S2_16 .144095 .068571 2.10140 [.036] S3_16 .021483 .058451 .367537 [.713] S4_16 -.022677 .053866 -.420984 [.674] S5_16 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB16 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #17 ====================== EQUATIONS: EQ_NB17 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_17 2.78133 .555400 5.00780 [.000] A5_17 .115661 .098855 1.17000 [.242] A4_17 .131327 .192125 .683550 [.494] A3_17 .247756 .187871 1.31875 [.187] A2_17 .183269 .134269 1.36494 [.172] P0_17 -.043800 .023748 -1.84434 [.065] P1_17 -.016821 .025564 -.657988 [.511] P2_17 .026006 .029783 .873186 [.383] P3_17 -.055908 .026827 -2.08399 [.037] P4_17 -.059204 .031822 -1.86047 [.063] P5_17 -.348423E-02 .036141 -.096408 [.923] P6_17 -.057740 .038411 -1.50323 [.133] P7_17 -.079792 .027068 -2.94785 [.003] P8_17 -.031436 .026165 -1.20145 [.230] P9_17 -.032822 .026809 -1.22428 [.221] P10_17 .031235 .026981 1.15764 [.247] P11_17 -.061443 .031134 -1.97350 [.048] P12_17 -.043583 .030103 -1.44780 [.148] P13_17 .542085E-02 .026147 .207321 [.836] P14_17 -.039735 .026667 -1.49003 [.136] P15_17 -.011172 .025716 -.434436 [.664] P16_17 .635989E-02 .029097 .218573 [.827] P17_17 -.035548 .027328 -1.30077 [.193] P18_17 .025114 .034934 .718907 [.472] P19_17 .030281 .063089 .479975 [.631] P20_17 .983082E-02 .023195 .423828 [.672] P21_17 .074864 .027765 2.69634 [.007] DI1_17 .032501 .035569 .913764 [.361] DF1_17 .723783E-03 .014382 .050327 [.960] DI2_17 .859532E-02 .059525 .144398 [.885] DF2_17 .012759 .757777E-02 1.68372 [.092] DI3_17 -.033899 .068327 -.496128 [.620] DF3_17 .012404 .710941E-02 1.74470 [.081] DI4_17 .036699 .063534 .577626 [.564] DF4_17 .014823 .616033E-02 2.40612 [.016] S1_17 -.171589 .075871 -2.26158 [.024] S2_17 .144095 .068571 2.10140 [.036] S3_17 .021483 .058451 .367537 [.713] S4_17 -.022677 .053866 -.420984 [.674] S5_17 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB17 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #18 ====================== EQUATIONS: EQ_NB18 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_18 2.78133 .555400 5.00780 [.000] A5_18 .115661 .098855 1.17000 [.242] A4_18 .131327 .192125 .683550 [.494] A3_18 .247756 .187871 1.31875 [.187] A2_18 .183269 .134269 1.36494 [.172] P0_18 -.043800 .023748 -1.84434 [.065] P1_18 -.016821 .025564 -.657988 [.511] P2_18 .026006 .029783 .873186 [.383] P3_18 -.055908 .026827 -2.08399 [.037] P4_18 -.059204 .031822 -1.86047 [.063] P5_18 -.348423E-02 .036141 -.096408 [.923] P6_18 -.057740 .038411 -1.50323 [.133] P7_18 -.079792 .027068 -2.94785 [.003] P8_18 -.031436 .026165 -1.20145 [.230] P9_18 -.032822 .026809 -1.22428 [.221] P10_18 .031235 .026981 1.15764 [.247] P11_18 -.061443 .031134 -1.97350 [.048] P12_18 -.043583 .030103 -1.44780 [.148] P13_18 .542085E-02 .026147 .207321 [.836] P14_18 -.039735 .026667 -1.49003 [.136] P15_18 -.011172 .025716 -.434436 [.664] P16_18 .635989E-02 .029097 .218573 [.827] P17_18 -.035548 .027328 -1.30077 [.193] P18_18 .025114 .034934 .718907 [.472] P19_18 .030281 .063089 .479975 [.631] P20_18 .983082E-02 .023195 .423828 [.672] P21_18 .074864 .027765 2.69634 [.007] DI1_18 .032501 .035569 .913764 [.361] DF1_18 .723783E-03 .014382 .050327 [.960] DI2_18 .859532E-02 .059525 .144398 [.885] DF2_18 .012759 .757777E-02 1.68372 [.092] DI3_18 -.033899 .068327 -.496128 [.620] DF3_18 .012404 .710941E-02 1.74470 [.081] DI4_18 .036699 .063534 .577626 [.564] DF4_18 .014823 .616033E-02 2.40612 [.016] S1_18 -.171589 .075871 -2.26158 [.024] S2_18 .144095 .068571 2.10140 [.036] S3_18 .021483 .058451 .367537 [.713] S4_18 -.022677 .053866 -.420984 [.674] S5_18 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB18 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #19 ====================== EQUATIONS: EQ_NB19 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_19 2.78133 .555400 5.00780 [.000] A5_19 .115661 .098855 1.17000 [.242] A4_19 .131327 .192125 .683550 [.494] A3_19 .247756 .187871 1.31875 [.187] A2_19 .183269 .134269 1.36494 [.172] P0_19 -.043800 .023748 -1.84434 [.065] P1_19 -.016821 .025564 -.657988 [.511] P2_19 .026006 .029783 .873186 [.383] P3_19 -.055908 .026827 -2.08399 [.037] P4_19 -.059204 .031822 -1.86047 [.063] P5_19 -.348423E-02 .036141 -.096408 [.923] P6_19 -.057740 .038411 -1.50323 [.133] P7_19 -.079792 .027068 -2.94785 [.003] P8_19 -.031436 .026165 -1.20145 [.230] P9_19 -.032822 .026809 -1.22428 [.221] P10_19 .031235 .026981 1.15764 [.247] P11_19 -.061443 .031134 -1.97350 [.048] P12_19 -.043583 .030103 -1.44780 [.148] P13_19 .542085E-02 .026147 .207321 [.836] P14_19 -.039735 .026667 -1.49003 [.136] P15_19 -.011172 .025716 -.434436 [.664] P16_19 .635989E-02 .029097 .218573 [.827] P17_19 -.035548 .027328 -1.30077 [.193] P18_19 .025114 .034934 .718907 [.472] P19_19 .030281 .063089 .479975 [.631] P20_19 .983082E-02 .023195 .423828 [.672] P21_19 .074864 .027765 2.69634 [.007] DI1_19 .032501 .035569 .913764 [.361] DF1_19 .723783E-03 .014382 .050327 [.960] DI2_19 .859532E-02 .059525 .144398 [.885] DF2_19 .012759 .757777E-02 1.68372 [.092] DI3_19 -.033899 .068327 -.496128 [.620] DF3_19 .012404 .710941E-02 1.74470 [.081] DI4_19 .036699 .063534 .577626 [.564] DF4_19 .014823 .616033E-02 2.40612 [.016] S1_19 -.171589 .075871 -2.26158 [.024] S2_19 .144095 .068571 2.10140 [.036] S3_19 .021483 .058451 .367537 [.713] S4_19 -.022677 .053866 -.420984 [.674] S5_19 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB19 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #20 ====================== EQUATIONS: EQ_NB20 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_20 2.78133 .555400 5.00780 [.000] A5_20 .115661 .098855 1.17000 [.242] A4_20 .131327 .192125 .683550 [.494] A3_20 .247756 .187871 1.31875 [.187] A2_20 .183269 .134269 1.36494 [.172] P0_20 -.043800 .023748 -1.84434 [.065] P1_20 -.016821 .025564 -.657988 [.511] P2_20 .026006 .029783 .873186 [.383] P3_20 -.055908 .026827 -2.08399 [.037] P4_20 -.059204 .031822 -1.86047 [.063] P5_20 -.348423E-02 .036141 -.096408 [.923] P6_20 -.057740 .038411 -1.50323 [.133] P7_20 -.079792 .027068 -2.94785 [.003] P8_20 -.031436 .026165 -1.20145 [.230] P9_20 -.032822 .026809 -1.22428 [.221] P10_20 .031235 .026981 1.15764 [.247] P11_20 -.061443 .031134 -1.97350 [.048] P12_20 -.043583 .030103 -1.44780 [.148] P13_20 .542085E-02 .026147 .207321 [.836] P14_20 -.039735 .026667 -1.49003 [.136] P15_20 -.011172 .025716 -.434436 [.664] P16_20 .635989E-02 .029097 .218573 [.827] P17_20 -.035548 .027328 -1.30077 [.193] P18_20 .025114 .034934 .718907 [.472] P19_20 .030281 .063089 .479975 [.631] P20_20 .983082E-02 .023195 .423828 [.672] P21_20 .074864 .027765 2.69634 [.007] DI1_20 .032501 .035569 .913764 [.361] DF1_20 .723783E-03 .014382 .050327 [.960] DI2_20 .859532E-02 .059525 .144398 [.885] DF2_20 .012759 .757777E-02 1.68372 [.092] DI3_20 -.033899 .068327 -.496128 [.620] DF3_20 .012404 .710941E-02 1.74470 [.081] DI4_20 .036699 .063534 .577626 [.564] DF4_20 .014823 .616033E-02 2.40612 [.016] S1_20 -.171589 .075871 -2.26158 [.024] S2_20 .144095 .068571 2.10140 [.036] S3_20 .021483 .058451 .367537 [.713] S4_20 -.022677 .053866 -.420984 [.674] S5_20 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB20 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #21 ====================== EQUATIONS: EQ_NB21 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_21 2.78133 .555400 5.00780 [.000] A5_21 .115661 .098855 1.17000 [.242] A4_21 .131327 .192125 .683550 [.494] A3_21 .247756 .187871 1.31875 [.187] A2_21 .183269 .134269 1.36494 [.172] P0_21 -.043800 .023748 -1.84434 [.065] P1_21 -.016821 .025564 -.657988 [.511] P2_21 .026006 .029783 .873186 [.383] P3_21 -.055908 .026827 -2.08399 [.037] P4_21 -.059204 .031822 -1.86047 [.063] P5_21 -.348423E-02 .036141 -.096408 [.923] P6_21 -.057740 .038411 -1.50323 [.133] P7_21 -.079792 .027068 -2.94785 [.003] P8_21 -.031436 .026165 -1.20145 [.230] P9_21 -.032822 .026809 -1.22428 [.221] P10_21 .031235 .026981 1.15764 [.247] P11_21 -.061443 .031134 -1.97350 [.048] P12_21 -.043583 .030103 -1.44780 [.148] P13_21 .542085E-02 .026147 .207321 [.836] P14_21 -.039735 .026667 -1.49003 [.136] P15_21 -.011172 .025716 -.434436 [.664] P16_21 .635989E-02 .029097 .218573 [.827] P17_21 -.035548 .027328 -1.30077 [.193] P18_21 .025114 .034934 .718907 [.472] P19_21 .030281 .063089 .479975 [.631] P20_21 .983082E-02 .023195 .423828 [.672] P21_21 .074864 .027765 2.69634 [.007] DI1_21 .032501 .035569 .913764 [.361] DF1_21 .723783E-03 .014382 .050327 [.960] DI2_21 .859532E-02 .059525 .144398 [.885] DF2_21 .012759 .757777E-02 1.68372 [.092] DI3_21 -.033899 .068327 -.496128 [.620] DF3_21 .012404 .710941E-02 1.74470 [.081] DI4_21 .036699 .063534 .577626 [.564] DF4_21 .014823 .616033E-02 2.40612 [.016] S1_21 -.171589 .075871 -2.26158 [.024] S2_21 .144095 .068571 2.10140 [.036] S3_21 .021483 .058451 .367537 [.713] S4_21 -.022677 .053866 -.420984 [.674] S5_21 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB21 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #22 ====================== EQUATIONS: EQ_NB22 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_22 2.78133 .555400 5.00780 [.000] A5_22 .115661 .098855 1.17000 [.242] A4_22 .131327 .192125 .683550 [.494] A3_22 .247756 .187871 1.31875 [.187] A2_22 .183269 .134269 1.36494 [.172] P0_22 -.043800 .023748 -1.84434 [.065] P1_22 -.016821 .025564 -.657988 [.511] P2_22 .026006 .029783 .873186 [.383] P3_22 -.055908 .026827 -2.08399 [.037] P4_22 -.059204 .031822 -1.86047 [.063] P5_22 -.348423E-02 .036141 -.096408 [.923] P6_22 -.057740 .038411 -1.50323 [.133] P7_22 -.079792 .027068 -2.94785 [.003] P8_22 -.031436 .026165 -1.20145 [.230] P9_22 -.032822 .026809 -1.22428 [.221] P10_22 .031235 .026981 1.15764 [.247] P11_22 -.061443 .031134 -1.97350 [.048] P12_22 -.043583 .030103 -1.44780 [.148] P13_22 .542085E-02 .026147 .207321 [.836] P14_22 -.039735 .026667 -1.49003 [.136] P15_22 -.011172 .025716 -.434436 [.664] P16_22 .635989E-02 .029097 .218573 [.827] P17_22 -.035548 .027328 -1.30077 [.193] P18_22 .025114 .034934 .718907 [.472] P19_22 .030281 .063089 .479975 [.631] P20_22 .983082E-02 .023195 .423828 [.672] P21_22 .074864 .027765 2.69634 [.007] DI1_22 .032501 .035569 .913764 [.361] DF1_22 .723783E-03 .014382 .050327 [.960] DI2_22 .859532E-02 .059525 .144398 [.885] DF2_22 .012759 .757777E-02 1.68372 [.092] DI3_22 -.033899 .068327 -.496128 [.620] DF3_22 .012404 .710941E-02 1.74470 [.081] DI4_22 .036699 .063534 .577626 [.564] DF4_22 .014823 .616033E-02 2.40612 [.016] S1_22 -.171589 .075871 -2.26158 [.024] S2_22 .144095 .068571 2.10140 [.036] S3_22 .021483 .058451 .367537 [.713] S4_22 -.022677 .053866 -.420984 [.674] S5_22 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB22 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #23 ====================== EQUATIONS: EQ_NB23 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_23 2.78133 .555400 5.00780 [.000] A5_23 .115661 .098855 1.17000 [.242] A4_23 .131327 .192125 .683550 [.494] A3_23 .247756 .187871 1.31875 [.187] A2_23 .183269 .134269 1.36494 [.172] P0_23 -.043800 .023748 -1.84434 [.065] P1_23 -.016821 .025564 -.657988 [.511] P2_23 .026006 .029783 .873186 [.383] P3_23 -.055908 .026827 -2.08399 [.037] P4_23 -.059204 .031822 -1.86047 [.063] P5_23 -.348423E-02 .036141 -.096408 [.923] P6_23 -.057740 .038411 -1.50323 [.133] P7_23 -.079792 .027068 -2.94785 [.003] P8_23 -.031436 .026165 -1.20145 [.230] P9_23 -.032822 .026809 -1.22428 [.221] P10_23 .031235 .026981 1.15764 [.247] P11_23 -.061443 .031134 -1.97350 [.048] P12_23 -.043583 .030103 -1.44780 [.148] P13_23 .542085E-02 .026147 .207321 [.836] P14_23 -.039735 .026667 -1.49003 [.136] P15_23 -.011172 .025716 -.434436 [.664] P16_23 .635989E-02 .029097 .218573 [.827] P17_23 -.035548 .027328 -1.30077 [.193] P18_23 .025114 .034934 .718907 [.472] P19_23 .030281 .063089 .479975 [.631] P20_23 .983082E-02 .023195 .423828 [.672] P21_23 .074864 .027765 2.69634 [.007] DI1_23 .032501 .035569 .913764 [.361] DF1_23 .723783E-03 .014382 .050327 [.960] DI2_23 .859532E-02 .059525 .144398 [.885] DF2_23 .012759 .757777E-02 1.68372 [.092] DI3_23 -.033899 .068327 -.496128 [.620] DF3_23 .012404 .710941E-02 1.74470 [.081] DI4_23 .036699 .063534 .577626 [.564] DF4_23 .014823 .616033E-02 2.40612 [.016] S1_23 -.171589 .075871 -2.26158 [.024] S2_23 .144095 .068571 2.10140 [.036] S3_23 .021483 .058451 .367537 [.713] S4_23 -.022677 .053866 -.420984 [.674] S5_23 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB23 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #24 ====================== EQUATIONS: EQ_NB24 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_24 2.78133 .555400 5.00780 [.000] A5_24 .115661 .098855 1.17000 [.242] A4_24 .131327 .192125 .683550 [.494] A3_24 .247756 .187871 1.31875 [.187] A2_24 .183269 .134269 1.36494 [.172] P0_24 -.043800 .023748 -1.84434 [.065] P1_24 -.016821 .025564 -.657988 [.511] P2_24 .026006 .029783 .873186 [.383] P3_24 -.055908 .026827 -2.08399 [.037] P4_24 -.059204 .031822 -1.86047 [.063] P5_24 -.348423E-02 .036141 -.096408 [.923] P6_24 -.057740 .038411 -1.50323 [.133] P7_24 -.079792 .027068 -2.94785 [.003] P8_24 -.031436 .026165 -1.20145 [.230] P9_24 -.032822 .026809 -1.22428 [.221] P10_24 .031235 .026981 1.15764 [.247] P11_24 -.061443 .031134 -1.97350 [.048] P12_24 -.043583 .030103 -1.44780 [.148] P13_24 .542085E-02 .026147 .207321 [.836] P14_24 -.039735 .026667 -1.49003 [.136] P15_24 -.011172 .025716 -.434436 [.664] P16_24 .635989E-02 .029097 .218573 [.827] P17_24 -.035548 .027328 -1.30077 [.193] P18_24 .025114 .034934 .718907 [.472] P19_24 .030281 .063089 .479975 [.631] P20_24 .983082E-02 .023195 .423828 [.672] P21_24 .074864 .027765 2.69634 [.007] DI1_24 .032501 .035569 .913764 [.361] DF1_24 .723783E-03 .014382 .050327 [.960] DI2_24 .859532E-02 .059525 .144398 [.885] DF2_24 .012759 .757777E-02 1.68372 [.092] DI3_24 -.033899 .068327 -.496128 [.620] DF3_24 .012404 .710941E-02 1.74470 [.081] DI4_24 .036699 .063534 .577626 [.564] DF4_24 .014823 .616033E-02 2.40612 [.016] S1_24 -.171589 .075871 -2.26158 [.024] S2_24 .144095 .068571 2.10140 [.036] S3_24 .021483 .058451 .367537 [.713] S4_24 -.022677 .053866 -.420984 [.674] S5_24 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB24 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552] INVESTOR #25 ====================== EQUATIONS: EQ_NB25 NOB 610 SBIC 695.089 LOGL -566.820 Standard Parameter Estimate Error t-statistic P-value C_25 2.78133 .555400 5.00780 [.000] A5_25 .115661 .098855 1.17000 [.242] A4_25 .131327 .192125 .683550 [.494] A3_25 .247756 .187871 1.31875 [.187] A2_25 .183269 .134269 1.36494 [.172] P0_25 -.043800 .023748 -1.84434 [.065] P1_25 -.016821 .025564 -.657988 [.511] P2_25 .026006 .029783 .873186 [.383] P3_25 -.055908 .026827 -2.08399 [.037] P4_25 -.059204 .031822 -1.86047 [.063] P5_25 -.348423E-02 .036141 -.096408 [.923] P6_25 -.057740 .038411 -1.50323 [.133] P7_25 -.079792 .027068 -2.94785 [.003] P8_25 -.031436 .026165 -1.20145 [.230] P9_25 -.032822 .026809 -1.22428 [.221] P10_25 .031235 .026981 1.15764 [.247] P11_25 -.061443 .031134 -1.97350 [.048] P12_25 -.043583 .030103 -1.44780 [.148] P13_25 .542085E-02 .026147 .207321 [.836] P14_25 -.039735 .026667 -1.49003 [.136] P15_25 -.011172 .025716 -.434436 [.664] P16_25 .635989E-02 .029097 .218573 [.827] P17_25 -.035548 .027328 -1.30077 [.193] P18_25 .025114 .034934 .718907 [.472] P19_25 .030281 .063089 .479975 [.631] P20_25 .983082E-02 .023195 .423828 [.672] P21_25 .074864 .027765 2.69634 [.007] DI1_25 .032501 .035569 .913764 [.361] DF1_25 .723783E-03 .014382 .050327 [.960] DI2_25 .859532E-02 .059525 .144398 [.885] DF2_25 .012759 .757777E-02 1.68372 [.092] DI3_25 -.033899 .068327 -.496128 [.620] DF3_25 .012404 .710941E-02 1.74470 [.081] DI4_25 .036699 .063534 .577626 [.564] DF4_25 .014823 .616033E-02 2.40612 [.016] S1_25 -.171589 .075871 -2.26158 [.024] S2_25 .144095 .068571 2.10140 [.036] S3_25 .021483 .058451 .367537 [.713] S4_25 -.022677 .053866 -.420984 [.674] S5_25 .076197 .032136 2.37105 [.018] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB25 Dependent variable: LPSE YMEAN 5.08721 S2 .401870 ARSQ .587185 SDEV .986654 S .633932 LMHET .257012 [.612] SSR 229.066 RSQ .613622 DW 1.83350 [<.552]