Hypothesized No. of CE(s)

Eigen value

Trace statistic

0.05 Critical value

Prob.**

None*

0.9919

188.812

69.81889

0.0000

At most 1*

0.8521

73.142

47.85613

0.0000

At most 2

0.5068

27.261

29.79707

0.0954

At most 3

0.2528

10.292

15.49471

0.2589

At most 4

0.1283

3.2972

3.841466

0.0694