Hypothesized

Eigenvalue

Trace Statistic

0.05

Max-Eigen

0.05

No. of CE(s)

Critical Value

Statistic

Critical Value

C = 0

0.713

106.990^a (0.000)

29.797

86.207^a (0.000)

21.131

C ≤ 1

0.222

20.783^a (0.007)

15.494

17.380^a (0.015)

14.264

C ≤ 2

0.048

3.403 (0.065)

3.841

3.403 (0.065)

3.841