Hypothesized No. of CE(s) | Eigenvalue | Trace Statistic | 0.05 Critical Value | Prob. | Max-Eigen Statistic | 0.05 Critical Value | Prob. |
None** | 0.950977 | 103.4193 | 47.85613 | 0.0000 | 45.23186 | 27.58434 | 0.0001 |
At most 1** | 0.917295 | 58.18748 | 29.79707 | 0.0000 | 37.38711 | 21.13162 | 0.0001 |
At most 2** | 0.613747 | 20.80037 | 15.49471 | 0.0072 | 14.26893 | 14.26460 | 0.0499 |
At most 3** | 0.353013 | 6.531440 | 3.841466 | 0.0106 | 6.531440 | 3.841466 | 0.0106 |