Research Article
Customer Satisfaction and the Consumption Function
Table 3
Incremental forecasting capacity of CCI and CSI.
| Panel (a) Estimations of (2), Four lags are used |
| | , | , | , | Consumption | Incremental adjusted | P-values of the joint significance of | Incremental adjusted | P-values of the joint significance of | Incremental adjusted | P-values of the joint significance of |
| Total PCE | 0.140 | 0.010 | 0.100 | 0.098 | 0.031 | 0.358 | Durable | 0.099 | 0.016 | 0.022 | 0.073 | 0.015 | 0.545 | Motor | 0.110 | 0.012 | 0.030 | 0.341 | 0.002 | 0.446 | Durable w/o. motor | 0.076 | 0.828 | 0.021 | 0.007 | 0.025 | 0.905 | Non-durable | 0.117 | 0.054 | 0.059 | 0.628 | 0.042 | 0.867 | Service | 0.102 | 0.000 | 0.083 | 0.000 | 0.009 | 0.264 |
| Panel (b) Estimations of (2), with optimum lag |
| | , | , | , | Consumption | Incremental adjusted | P-values of the joint significance of | Incremental adjusted | P-values of the joint significance of | Incremental adjusted | P-values of the joint significance of |
| Total PCE | 0.149 | 0.001 | 0.136 | 0.003 | 0.094 | 0.029 | Durable | 0.058 | 0.006 | 0.053 | 0.007 | 0.032 | 0.085 | Motor | 0.069 | 0.011 | 0.035 | 0.037 | 0.037 | 0.080 | Durable w/o. motor | 0.015 | 0.678 | 0.012 | 0.061 | 0.027 | 0.205 | Non-durable | 0.108 | 0.022 | 0.010 | 0.161 | 0.002 | 0.417 | Service | 0.156 | 0.000 | 0.113 | 0.000 | 0.035 | 0.089 |
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, , and denote 1%, 5%, and 10% significance levels, respectively.
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