Hypothesized

No. of CE(s)

Eigenvalue

Max-Eigen

Statistic

0.05

Critical Value

Prob.**

None*

0.804430

53.85061

40.07757

0.0008

At most 1*

0.723615

42.43672

33.87687

0.0038

At most 2

0.469000

20.88880

27.58434

0.2830

At most 3

0.345819

14.00423

21.13162

0.3647

At most 4

0.231059

8.670448

14.26460

0.3146

At most 5

0.071030

2.431404

3.841466

0.1189