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Table 3

Model selection criteria

AggregateManufacturingConstructionServices
Cp Marginal price 78.35 37.96 50.90 78.00 
Average price 105.23 46.30 116.77 126.9 
AIC Marginal price −34,751.91 −10,249.85 −3,363.33 −26,945.74 
Average price −34,725.05 −10,241.47 −3,297.66 −26,896.82 
AggregateManufacturingConstructionServices
Cp Marginal price 78.35 37.96 50.90 78.00 
Average price 105.23 46.30 116.77 126.9 
AIC Marginal price −34,751.91 −10,249.85 −3,363.33 −26,945.74 
Average price −34,725.05 −10,241.47 −3,297.66 −26,896.82 

Note: The AIC selects the model that minimizes the AIC statistic, whereas the criterion of Cp selects the model with a value of the Cp statistics closest to the number of parameters in the equation (33 in both cases).

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