Variance Equation

h t = δ 1 + λ 1 ε t 1 2 + λ 2 h t 1 + γ 1 D 1 t ( Tue ) + γ 2 D 2 t ( Wed ) + γ 3 D 3 t ( Thu ) + γ 4 D 4 t ( Fri ) (3)

Variable

Coefficients

Standard Error

t-statistics

Probability

Intercept ( α 1 )

0.20478**

0.089559

2.286523

0.0222