| Equation (1) | Equation (2) |
| ||

Variable | LM | p-value | LM | p-value | Conclusion |

y, d | 0.137 | 0.711 | 5.378 | 0.020 | Not both series display a cycle at the 10% significance level |

y, nd | 21.535 | 0.000 | 28.658 | 0.000 | Both series each have a cycle at the 1% significance level |

y, f | 2.254 | 0.133 | 21.476 | 0.000 | Not both series display a cycle at the 10% significance level |

y, s | 8.807 | 0.003 | 8.736 | 0.003 | Both series each have a cycle at the 1% significance level |

y, o | 5.758 | 0.016 | 20.821 | 0.000 | Both series each have a cycle at the 1% significance level |