Variance Equation

$h_t={\delta }_1+{\lambda }_1{\epsilon }_{t-1}^2+{\lambda }_2{h}_{t-1}+{\gamma }_1{D}_{1t}\left(\text{Tue}\right)+{\gamma }_2{D}_{2t}\left(\text{Wed}\right)+{\gamma }_3{D}_{3t}\left(\text{Thu}\right)+{\gamma }_4{D}_{4t}\left(\text{Fri}\right)$ (3)

Variable

Coefficients

Standard Error

t-statistics

Probability

Intercept ( ${\alpha }_1$ )

0.20478**

0.089559

2.286523

0.0222