Hypothesized Trace 0.05
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
None 0.990885 2018.126 NA NA
At most 1 0.984154 1693.975 NA NA
At most 2 0.974718 1407.980 NA NA
At most 3 0.954882 1154.223 NA NA
At most 4 * 0.927893 940.4284 334.9837 0.0000
At most 5 * 0.904237 758.9857 285.1425 0.0000
At most 6 * 0.880873 597.1202 239.2354 0.0000
At most 7 * 0.796081 450.3183 197.3709 0.0001
At most 8 * 0.744838 340.6062 159.5297 0.0000
At most 9 * 0.609656 246.3620 125.6154 0.0000
At most 10 * 0.579809 181.4518 95.75366 0.0000
At most 11 * 0.530073 121.6257 69.81889 0.0000
At most 12 * 0.362096 69.51838 47.85613 0.0001
At most 13 * 0.303914 38.49828 29.79707 0.0039
At most 14 0.136612 13.50078 15.49471 0.0977
At most 15 0.047602 3.365283 3.841466 0.0666