Hypothesized No. of CE (s) | Trace Statistic | 0.05 Critical Value | P Value |
None | 428.5955 | 159.5297 | 0.0000 |
At most 1 | 302.4077 | 125.6154 | 0.0000 |
At most 2 | 214.2237 | 95.75366 | 0.0000 |
At most 3 | 130.2251 | 69.81889 | 0.0000 |
At most 4 | 58.91598 | 47.85613 | 0.0033 |
At most 5 | 29.32623 | 29.79707 | 0.0566 |
At most 6 | 11.15533 | 15.49471 | 0.2021 |
At most 7 | 0.000273 | 3.841466 | 0.9889 |