Forecasting Performance of Lumber Futures Prices

Table 3

Mincer-Zarnowitz regression results.

Dependent variable	Independent variable	α					and
		Value	-statistics	Value	-statistic	-values; Wald Test (-statistic)
			0.234	0.55	0.003	0.015	0.006	0.09
			0.109	0.67	0.000	0.046	0.015	0.12
			0.072	0.71	0.000	0.060	0.011	0.14
			0.051	0.77	0.000	0.173	0.015	0.17

hypothesis: value(s) significantly different from zero.