The SAS System 1 15:55 Tuesday, March 22, 2005 The MEANS Procedure Variable N Mean Std Dev Minimum Maximum ------------------------------------------------------------------------------ Year 36 17.5000000 10.5356538 0 35.0000000 G 36 226.0944444 50.5918172 129.7000000 297.8000000 Pg 36 2.3166111 1.2517346 0.9140000 4.1090000 Y 36 9232.86 1786.38 6036.00 11934.00 Pnc 36 1.6707778 0.6335453 0.9910000 2.8150000 Puc 36 2.3436389 1.4098715 0.8360000 5.2240000 Ppt 36 2.7448611 1.8563550 0.8100000 6.4100000 Pd 36 0.7972222 0.2895116 0.4440000 1.2390000 Pn 36 0.7819167 0.3848769 0.3310000 1.4190000 Ps 36 0.8362500 0.4965155 0.3020000 1.7860000 Pop 36 221.9472222 24.0083853 180.7000000 263.2000000 lnGcap 36 -0.0037086 0.1516909 -0.3358192 0.1602927 lnY 36 9.1109277 0.2048051 8.7054968 9.3871467 lnPgas 36 0.6740943 0.6042280 -0.0899247 1.4131797 lnPcar 36 0.4431982 0.3794222 -0.0090407 1.0349623 lnPusd 36 0.6636122 0.6301064 -0.1791267 1.6532634 lnPtrn 36 0.7720826 0.7108304 -0.2107210 1.8578593 lnPdur 36 -0.2943132 0.3776940 -0.8119307 0.2143046 lnPndr 36 -0.3754351 0.5279669 -1.1056369 0.3499524 lnPsvc 36 -0.3602393 0.6198933 -1.1973283 0.5799785 sum_un 36 1.1068104 1.0077616 -0.1351098 2.6882257 ------------------------------------------------------------------------------ The SAS System 2 15:55 Tuesday, March 22, 2005 The REG Procedure Model: MODEL1 Dependent Variable: lnGcap Number of Observations Read 36 Number of Observations Used 36 Analysis of Variance Sum of Mean Source DF Squares Square F Value Pr > F Model 4 0.77152 0.19288 176.71 <.0001 Error 31 0.03384 0.00109 Corrected Total 35 0.80535 Root MSE 0.03304 R-Square 0.9580 Dependent Mean -0.00371 Adj R-Sq 0.9526 Coeff Var -890.84882 Parameter Estimates Parameter Standard Variable DF Estimate Error t Value Pr > |t| Intercept 1 -12.34184 0.67489 -18.29 <.0001 lnY 1 1.37340 0.07563 18.16 <.0001 lnPgas 1 -0.05910 0.03248 -1.82 0.0786 lnPcar 1 -0.12680 0.12699 -1.00 0.3258 lnPusd 1 -0.11871 0.08134 -1.46 0.1545 Covariance of Estimates Variable Intercept lnY lnPgas lnPcar lnPusd Intercept 0.4554828708 -0.05103526 0.0049797973 -0.020769286 0.0231672549 lnY -0.05103526 0.0057195452 -0.000561349 0.0022541336 -0.0025553 lnPgas 0.0049797973 -0.000561349 0.0010552725 -0.001030748 -0.000180693 lnPcar -0.020769286 0.0022541336 -0.001030748 0.016127352 -0.00937408 lnPusd 0.0231672549 -0.0025553 -0.000180693 -0.00937408 0.0066157235 The SAS System 3 15:55 Tuesday, March 22, 2005 The REG Procedure Model: MODEL2 Dependent Variable: lnGcap Number of Observations Read 36 Number of Observations Used 36 Analysis of Variance Sum of Mean Source DF Squares Square F Value Pr > F Model 1 0.64647 0.64647 138.34 <.0001 Error 34 0.15888 0.00467 Corrected Total 35 0.80535 Root MSE 0.06836 R-Square 0.8027 Dependent Mean -0.00371 Adj R-Sq 0.7969 Coeff Var -1843.26493 Parameter Estimates Parameter Standard Variable DF Estimate Error t Value Pr > |t| Intercept 1 -6.04963 0.51415 -11.77 <.0001 lnY 1 0.66359 0.05642 11.76 <.0001 The SAS System 4 15:55 Tuesday, March 22, 2005 The REG Procedure Model: MODEL1 Dependent Variable: lnGcap Number of Observations Read 36 Number of Observations Used 36 Analysis of Variance Sum of Mean Source DF Squares Square F Value Pr > F Model 9 0.79679 0.08853 268.77 <.0001 Error 26 0.00856 0.00032940 Corrected Total 35 0.80535 Root MSE 0.01815 R-Square 0.9894 Dependent Mean -0.00371 Adj R-Sq 0.9857 Coeff Var -489.38413 Parameter Estimates Parameter Standard Variable DF Estimate Error t Value Pr > |t| Intercept 1 -10.42711 1.73241 -6.02 <.0001 lnY 1 1.21514 0.17851 6.81 <.0001 lnPgas 1 -0.53483 0.06387 -8.37 <.0001 lnPcar 1 0.08313 0.20740 0.40 0.6918 lnPusd 1 -0.11499 0.06708 -1.71 0.0984 lnPtrn 1 0.12063 0.08044 1.50 0.1457 lnPdur 1 0.94285 0.29367 3.21 0.0035 lnPndr 1 1.21750 0.27594 4.41 0.0002 lnPsvc 1 -1.30667 0.37165 -3.52 0.0016 Year 1 -0.00440 0.00657 -0.67 0.5095 Covariance of Estimates Variable Intercept lnY lnPgas lnPcar lnPusd Intercept 3.0012496556 -0.305026994 -0.036757122 -0.245760622 -0.031708696 lnY -0.305026994 0.0318663608 0.0039230748 0.0214069409 0.0024402527 lnPgas -0.036757122 0.0039230748 0.0040789334 -0.001071969 -0.00046387 lnPcar -0.245760622 0.0214069409 -0.001071969 0.0430141504 0.0037967535 lnPusd -0.031708696 0.0024402527 -0.00046387 0.0037967535 0.0044996188 lnPtrn -0.039003271 0.0027376422 -0.001893101 0.0088523405 0.0015010196 lnPdur 0.3395037921 -0.033173702 -0.005596023 -0.028288228 -0.011915701 lnPndr -0.029504338 -0.000573068 -0.012264777 0.0259615938 0.0103140639 lnPsvc 0.0932678695 -0.000698858 0.0130447668 -0.055098795 -0.01082632 Year 0.0048648634 -0.000651462 -0.000059608 0.00026289 0.0000243452 The SAS System 5 15:55 Tuesday, March 22, 2005 The REG Procedure Model: MODEL1 Dependent Variable: lnGcap Covariance of Estimates Variable lnPtrn lnPdur lnPndr lnPsvc Year Intercept -0.039003271 0.3395037921 -0.029504338 0.0932678695 0.0048648634 lnY 0.0027376422 -0.033173702 -0.000573068 -0.000698858 -0.000651462 lnPgas -0.001893101 -0.005596023 -0.012264777 0.0130447668 -0.000059608 lnPcar 0.0088523405 -0.028288228 0.0259615938 -0.055098795 0.00026289 lnPusd 0.0015010196 -0.011915701 0.0103140639 -0.01082632 0.0000243452 lnPtrn 0.0064701873 -0.006999918 0.0142707878 -0.022004034 0.0000453057 lnPdur -0.006999918 0.0862416025 -0.031319997 0.015860901 0.0006684578 lnPndr 0.0142707878 -0.031319997 0.0761438731 -0.080348963 0.0002313467 lnPsvc -0.022004034 0.015860901 -0.080348963 0.1381253604 -0.001305171 Year 0.0000453057 0.0006684578 0.0002313467 -0.001305171 0.0000432293 The SAS System 6 15:55 Tuesday, March 22, 2005 The REG Procedure Model: MODEL2 Dependent Variable: lnGcap Number of Observations Read 36 Number of Observations Used 36 Analysis of Variance Sum of Mean Source DF Squares Square F Value Pr > F Model 8 0.79647 0.09956 302.43 <.0001 Error 27 0.00889 0.00032919 Corrected Total 35 0.80535 Root MSE 0.01814 R-Square 0.9890 Dependent Mean -0.00371 Adj R-Sq 0.9857 Coeff Var -489.23210 Parameter Estimates Parameter Standard Variable DF Estimate Error t Value Pr > |t| Intercept 1 -9.36481 1.36101 -6.88 <.0001 lnY 1 1.12101 0.15113 7.42 <.0001 lnPgas 1 -0.53181 0.06377 -8.34 <.0001 sum_un 1 -0.11150 0.06697 -1.66 0.1075 lnPtrn 1 0.08415 0.07151 1.18 0.2496 lnPdur 1 1.02411 0.28192 3.63 0.0012 lnPndr 1 1.13984 0.26451 4.31 0.0002 lnPsvc 1 -1.08696 0.29828 -3.64 0.0011 Year 1 -0.00558 0.00646 -0.86 0.3955