© Copyright 2002 by the Wyoming Department of Employment, Research & Planning
Table 1: Over-the-Month Employment Change in Oil & Gas Regressed on Rig Count, Gas Price, and Seasonal Factors | ||
Coefficient | ||
Variable | (SE) | T-Value |
Intercept | -805.273** | -6.993 |
(115.16) | ||
Change in Rig Count for Wyoming | 19.417** | 6.328 |
(3.07) | ||
CPI-U for Utility Natural Gas Service | 3.811** | 4.592 |
(0.83) | ||
February (dummy†) | 290.966** | 3.862 |
(75.34) | ||
March (dummy) | 408.612** | 5.433 |
(75.21) | ||
April (dummy) | 258.091** | 3.371 |
(76.57) | ||
May (dummy) | 559.966** | 7.158 |
(78.24) | ||
June (dummy) | 601.704** | 7.339 |
(81.99) | ||
July (dummy) | 571.999** | 7.346 |
(77.87) | ||
August (dummy) | 556.075** | 7.018 |
(79.24) | ||
September (dummy) | 311.605** | 3.981 |
(78.26) | ||
October (dummy) | 375.502** | 4.952 |
(75.82) | ||
November (dummy) | 348.614** | 4.620 |
(75.46) | ||
December (dummy) | 394.929** | 5.247 |
(75.28) | ||
(DW=2.046) | ||
(Adjusted R squared=0.676) | ||
(n=119) | ||
(F=19.921) | ||
** Significant at the 99 percent level (p<.01). | ||
† The term dummy variable is a standard statistical term in which the members of the group of interest are coded as 1 and the members of the comparison or "dummy" group are coded as 0. |
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