Dummy variables | Significant level 5% | Significant level 10% | ||||
No. of significant | No. of significant and positive | No. of significant and negative | No. of significant | No. of significant and positive | No. of significant and negative | |
b1 | 46 | 32 | 14 | 65 | 45 | 20 |
b2 | 42 | 39 | 3 | 59 | 49 | 10 |
b3 | 39 | 10 | 29 | 54 | 14 | 40 |
b4 | 23 | 13 | 10 | 43 | 20 | 23 |
b5 | 54 | 9 | 45 | 69 | 11 | 58 |
b6 | 9 | 5 | 4 | 22 | 11 | 11 |
b7 | 24 | 17 | 7 | 41 | 29 | 12 |
b8 | 28 | 12 | 16 | 36 | 18 | 18 |
b9 | 27 | 10 | 17 | 45 | 20 | 25 |
b10 | 27 | 13 | 14 | 36 | 14 | 22 |
b11 | 29 | 14 | 15 | 44 | 19 | 25 |
Total | 348 | 174 | 174 | 514 | 250 | 264 |