College of Management

Massachusetts Investor Sentiment Index [MISI]

# Days	Min	Mean	Max
25	-38.6153	-1.8454	36.9547
# Pos(95%)	Mean Pos(95%)	# Neg(95%)	Mean Neg(95%)
8	22.3116	7	-24.5530

College of Management The statistics refer to the last # Days on which the MISI could be calculated (trading days). The Min, Max and Mean are the minimum, maximum and average value of MISI computed over that sample. The # Pos(95%) and # Neg(95%) are the number of trading days during which the MISI was significantly positive or negative, respectively, judged at the 95% level of significance. The Mean Pos(95%) and Mean Neg(95%) are the average values of MISI calculated over the significantly positive and significantly negative values, respectively.

The table below shows the MISI values for the last # Days. The P-value is the tail probability for the hypothesis test that the MISI = 0. The number of firms entering that day's calculations is given as # Firms.

Quote date	MISI	P-value	# Firms
Nov 16, 2007	-11.7319	0.065	248
Nov 15, 2007	-16.4899	0.009	248
Nov 14, 2007	-17.7919	0.005	249
Nov 13, 2007	35.5841	0.000	249
Nov 12, 2007	-6.9869	0.272	249
Nov 9, 2007	-1.6519	0.795	249
Nov 8, 2007	7.3495	0.248	249
Nov 7, 2007	-35.2772	0.000	248
Nov 6, 2007	15.1175	0.017	248
Nov 5, 2007	-11.5236	0.070	248
Nov 2, 2007	-0.8759	0.891	248
Nov 1, 2007	-38.6153	0.000	249
Oct 31, 2007	19.5796	0.002	250
Oct 30, 2007	-12.2726	0.053	250
Oct 29, 2007	20.1060	0.001	250
Oct 26, 2007	13.2553	0.036	250
Oct 25, 2007	-8.1799	0.196	251
Oct 24, 2007	-20.1601	0.001	251
Oct 23, 2007	24.0356	0.000	251
Oct 22, 2007	36.9547	0.000	252
Oct 19, 2007	-25.6339	0.000	252
Oct 18, 2007	0.4322	0.946	252
Oct 17, 2007	13.8598	0.028	251
Oct 16, 2007	-7.3169	0.248	251
Oct 15, 2007	-17.9024	0.004	251

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