Hypothesis

Trace Statistics

Critical Value

Prop*

Max-Eigen Statistics

Critical Value

Prop*

None

106.8487

69.81889

0.0000

44.59097

33.87687

0.0018

At most 1

62.25775

47.85613

0.0013

34.46820

27.58434

0.0056

At most 2

27.78956

29.79707

0.0838

13.97149

21.13162

0.3674

At most 3

13.81806

15.49471

0.0881

10.36796

14.26460

0.1889

At most 4

3.450100

3.841466

0.0632

3.450100

3.841466

0.0632