ΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫ ΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫ ΫΫΫΫ ΫΫΫΫ ΫΫΫΫ ΫΫΫΫ ΫΫΫΫ ±± ±±± ±± ±± ±±±±±± ±±±±±± ±±±±±±± ΫΫΫΫ ΫΫΫΫ ±± ± ±±± ±±± ±± ± ±± ±± ±± ΫΫΫΫ ΫΫΫΫ ±± ± ±± ± ± ±± ±± ± ±± ±± ±± ΫΫΫΫ ΫΫΫΫ ±± ± ±± ± ±± ±± ± ±±±± ±±±±±±± ΫΫΫΫ ΫΫΫΫ ±± ± ±± ±± ±± ± ±±±± ±± ΫΫΫΫ ΫΫΫΫ ±± ± ±± ±± ±± ± ±± ±± ΫΫΫΫ ΫΫΫΫ ±± ± ±± ±± ±± ± ±± ±± ΫΫΫΫ ΫΫΫΫ ±±±±± ±±± ±± ±± ±±±±±± ±±±±±± ±± ΫΫΫΫ ΫΫΫΫ ΫΫΫΫ ΫΫΫΫ ΫΫΫΫ ΫΫΫΫ (C) Econometric Software, Inc. Version 7.0 ΫΫΫΫ ΫΫΫΫ 1991,1992,1994,1995 ΫΫΫΫ ΫΫΫΫ ΫΫΫΫ ΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫ ΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫΫ ΙΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝ» Ί LIMDEP Execution Trace. This run: 01/12/97. Time now 15:22:51. Page 1 Ί ΘΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΌ Line Program Instruction ΔΔΔΔ ΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔ 1 EDIT This begins 1 repetitions. The first is shown. 2 OPEN; OUTPUT = \teaching\e240dw97\jaggia.out $ End command entry from editor. This begins 1 repetitions. The first is shown. End command entry from editor. This begins 1 repetitions. The first is shown. 3 READ; NREC=126; NVAR=12; FILE=\teaching\webpage\winter98\jaggia.asc; NAMES = DOCNO,WEEKS,NUMBIDS,TAKEOVER,BIDPREM,INSTHOLD,SIZE, LEGLREST,REALREST,FINREST,REGULATN,WHTKNGHT $ Current sample : 126 observs. Total variables now : 12 Missing values read : 0 4 CREATE; SIZESQ = SIZE*SIZE $ 5 CREATE; Y = NUMBIDS $ 6 DSTAT; RHS = Y,LEGLREST,REALREST,FINREST,WHTKNGHT,BIDPREM,INSTHOLD, SIZE,SIZESQ,REGULATN,DOCNO,WEEKS,TAKEOVER $ Results begin on page 1 in output. Exit status for this model command is 0.0. 7 NAMELIST; X = ONE,LEGLREST,REALREST,FINREST,WHTKNGHT,BIDPREM,INSTHOLD, SIZE,SIZESQ,REGULATN $ 8 REGRESS; LHS=Y; RHS=X; HETERO $ Results begin on page 2 in output. Exit status for this model command is 0.0. 9 MATRIX; LIST; BOLS=B; PAUSE $ Results begin on page 3 in output. 10 MATRIX; VAROLS=VARB $ Results begin on page 4 in output. 11 REGRESS; LHS=Y; RHS=X; RES=OLSRES; KEEP=OLSPRED $ Results begin on page 5 in output. Exit status for this model command is 0.0. 12 LIST; Y,OLSPRED,OLSRES $ 13 PLOT; LHS = Y; RHS = OLSPRED $ Exit status for this model command is 0.0. End command entry from editor. This begins 1 repetitions. The first is shown. 14 STOP $ STOP $ 15 stop ΙΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝ» Ί LIMDEP Estimation Results Run log line 6 Page 1 Ί Ί Current sample contains 126 observations. Ί ΘΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΌ Descriptive Statistics Variable Mean Std. Dev. Skew. Kurt. Minimum Maximum Cases ΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔ Y 1.7381 1.4321 2.5 12.3 0.0000 10.0000 126 LEGLREST 0.4286 0.4968 0.3 1.1 0.0000 1.0000 126 REALREST 0.1825 0.3878 1.6 3.7 0.0000 1.0000 126 FINREST 0.1032 0.3054 2.6 7.7 0.0000 1.0000 126 WHTKNGHT 0.5952 0.4928 -0.4 1.1 0.0000 1.0000 126 BIDPREM 1.3468 0.1893 0.8 4.6 0.9427 2.0664 126 INSTHOLD 0.2518 0.1856 0.6 2.8 0.0000 0.9040 126 SIZE 1.2190 3.0966 5.1 31.4 0.0177 22.1690 126 SIZESQ 10.9990 59.9148 7.1 54.1 0.0003 491.4646 126 REGULATN 0.2698 0.4456 1.0 2.1 0.0000 1.0000 126 DOCNO 82174.4127 2251.7834 -0.4 2.0 78001.0000 85059.0000 126 WEEKS 11.4490 7.7114 1.8 6.5 2.8570 41.4290 126 TAKEOVER 1.0000 0.0000 0.0 0.0 1.0000 1.0000 126 ΙΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝ» Ί LIMDEP Estimation Results Run log line 8 Page 2 Ί Ί Current sample contains 126 observations. Ί ΘΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΌ ΙΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝ» Ί Ordinary least squares regression Weighting variable = ONE Ί Ί Dependent variable is Y Mean = 1.73810, S.D. = 1.4321 Ί Ί Model size: Observations = 126, Parameters = 10, Deg.Fr. = 116 Ί Ί Residuals: Sum of squares= 195.524 Std.Dev. = 1.29829 Ί Ί Fit: R-squared = 0.23730, Adjusted R-squared = 0.17813 Ί Ί Model test: F[ 9, 116] = 4.01, Prob value = 0.00017 Ί Ί Diagnostic: Log-L = -206.4684, Restricted(α=0) Log-L = -223.5345 Ί Ί Amemiya Pr. Crt.= 1.819, Akaike Info. Crt.= 3.436 Ί Ί Autocorrel: Durbin-Watson Statistic = 1.80885, Rho = 0.09557 Ί Ί Results Corrected for heteroskedasticity Ί Ί Breusch - Pagan chi-squared = 103.6401, with 9 degrees of freedom Ί ΘΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΌ Variable Coefficient Standard Error t-ratio P[³T³ςt] Mean of X ΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔ Constant 2.5770 0.73223 3.519 0.00062 LEGLREST 0.45604 0.22088 2.065 0.04119 0.4286 REALREST -0.38642 0.31901 -1.211 0.22824 0.1825 FINREST 0.13143 0.52950 0.248 0.80441 0.1032 WHTKNGHT 0.75915 0.17376 4.369 0.00003 0.5952 BIDPREM -1.1732 0.51929 -2.259 0.02573 1.347 INSTHOLD -0.56896 0.53985 -1.054 0.29411 0.2518 SIZE 0.39670 0.19675 2.016 0.04608 1.219 SIZESQ -0.16672E-01 0.84143E-02 -1.981 0.04991 11.00 REGULATN -0.22279E-01 0.25172 -0.089 0.92963 0.2698 ΙΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝ» Ί LIMDEP Estimation Results Run log line 9 Page 3 Ί Ί Current sample contains 126 observations. Ί ΘΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΌ LIST BOLS=B Matrix BOLS is 10 rows by 1 columns. 1 1 2.577 2 0.4560 3 -0.3864 4 0.1314 5 0.7591 6 -1.173 7 -0.5690 8 0.3967 9 -0.1667E-01 10 -0.2228E-01 PAUSE ΙΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝ» Ί LIMDEP Estimation Results Run log line 10 Page 4 Ί Ί Current sample contains 126 observations. Ί ΘΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΌ VAROLS=VARB Matrix VAROLS has 10 rows and 10 columns. ΙΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝ» Ί LIMDEP Estimation Results Run log line 11 Page 5 Ί Ί Current sample contains 126 observations. Ί ΘΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΌ ΙΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝ» Ί Ordinary least squares regression Weighting variable = ONE Ί Ί Dependent variable is Y Mean = 1.73810, S.D. = 1.4321 Ί Ί Model size: Observations = 126, Parameters = 10, Deg.Fr. = 116 Ί Ί Residuals: Sum of squares= 195.524 Std.Dev. = 1.29829 Ί Ί Fit: R-squared = 0.23730, Adjusted R-squared = 0.17813 Ί Ί Model test: F[ 9, 116] = 4.01, Prob value = 0.00017 Ί Ί Diagnostic: Log-L = -206.4684, Restricted(α=0) Log-L = -223.5345 Ί Ί Amemiya Pr. Crt.= 1.819, Akaike Info. Crt.= 3.436 Ί Ί Autocorrel: Durbin-Watson Statistic = 1.80885, Rho = 0.09557 Ί ΘΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΝΌ Variable Coefficient Standard Error t-ratio P[³T³ςt] Mean of X ΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔΔ Constant 2.5770 0.89251 2.887 0.00464 LEGLREST 0.45604 0.25642 1.779 0.07794 0.4286 REALREST -0.38642 0.33685 -1.147 0.25368 0.1825 FINREST 0.13143 0.39654 0.331 0.74092 0.1032 WHTKNGHT 0.75915 0.24707 3.073 0.00265 0.5952 BIDPREM -1.1732 0.62759 -1.869 0.06408 1.347 INSTHOLD -0.56896 0.69865 -0.814 0.41710 0.2518 SIZE 0.39670 0.12445 3.188 0.00184 1.219 SIZESQ -0.16672E-01 0.62429E-02 -2.671 0.00866 11.00 REGULATN -0.22279E-01 0.27791 -0.080 0.93625 0.2698