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

11

35

58

13

41

b2

50

18

32

61

21

40

Total

96

29

67

119

34

81