Hypothesized No. of CE(s) | Max-Eigen Statistic | 0.05 Critical Value | Probability Value |
None | 38.18780 | 14.36261 | 0.0000 |
At most 1 | 24.18396 | 3.23142 | 0.0000 |
At most 2 | 13.99862 | 2.07757 | 0.0000 |
At most 3 | 11.30912 | 1.87687 | 0.0000 |
At most 4 | 9.58975 | 1.58434 | 0.0273 |
At most 5 | 0.00109 | 1.13162 | 0.1236 |