Dummy variables

Significant level 5%

Significant level 10%

No. of significant

No. of significant and positive

No. of significant and negative

No. of significant

No. of significant and positive

No. of significant and negative

b1

46

32

14

65

45

20

b2

42

39

3

59

49

10

b3

39

10

29

54

14

40

b4

23

13

10

43

20

23

b5

54

9

45

69

11

58

b6

9

5

4

22

11

11

b7

24

17

7

41

29

12

b8

28

12

16

36

18

18

b9

27

10

17

45

20

25

b10

27

13

14

36

14

22

b11

29

14

15

44

19

25

Total

348

174

174

514

250

264