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

, , ,
ConsumptionIncremental 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 PCE0.1400.010 0.1000.098 0.0310.358
Durable0.0990.016 0.0220.073 0.0150.545
 Motor0.1100.012 0.0300.3410.0020.446
Durable w/o. motor 0.0760.828 0.0210.007 0.0250.905
Non-durable0.1170.054 0.0590.628 0.0420.867
Service0.1020.000 0.0830.000 0.0090.264

Panel (b) Estimations of (2), with optimum lag

, , ,
ConsumptionIncremental 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 PCE0.1490.001 0.1360.003 0.0940.029
Durable0.0580.006 0.0530.007 0.0320.085
 Motor0.0690.011 0.0350.037 0.0370.080
Durable w/o. motor 0.0150.6780.0120.061 0.0270.205
Non-durable0.1080.022 0.0100.161 0.0020.417
Service0.156 0.000 0.1130.000 0.0350.089

, , and denote 1%, 5%, and 10% significance levels, respectively.