Data and Results for Wine Regressions as Reported in Chance Magazine
by Ashenfelter, Ashmore and Lalonde
BASIC MODEL 1
Model: MODEL1
Dependent Variable: LPRICE2 Logarithm of Average Vintage Price Relative to 1961
Variable Definitions
Variable DF Label
INTERCEP 1 Intercept
WRAIN 1 Winter (Oct.-March) Rain ML
DEGREES 1 Average Temperature (Deg Cent.) April-Sept.
HRAIN 1 Harvest (August and Sept.) ML
TIME_SV 1 Time since Vintage (Years)
. Denotes missing observations
Parameter Estimates
Parameter Standard T for H0:
Variable DF Estimate Error Parameter=0 Prob > |T|
INTERCEP 1 -12.145398 1.68808445 -7.195 0.0001
WRAIN 1 0.001167 0.00048203 2.421 0.0242
DEGREES 1 0.616397 0.09517460 6.476 0.0001
HRAIN 1 -0.003860 0.00080753 -4.781 0.0001
TIME_SV 1 0.023847 0.00716666 3.327 0.0031
Analysis of Variance
Sum of Mean
Source DF Squares Square F Value Prob>F
Model 4 8.66447 2.16612 26.390 0.0001
Error 22 1.80579 0.08208
C Total 26 10.47026
Root MSE 0.28650 R-square 0.8275
Dep Mean -1.45177 Adj R-sq 0.7962
C.V. -19.73450
Variables
OBS VINT LPRICE2 WRAIN DEGREES HRAIN TIME_SV
1 1952 -0.99868 600 17.1167 160 31
2 1953 -0.45440 690 16.7333 80 30
3 1954 . 430 15.3833 180 29
4 1955 -0.80796 502 17.1500 130 28
5 1956 . 440 15.6500 140 27
6 1957 -1.50926 420 16.1333 110 26
7 1958 -1.71655 582 16.4167 187 25
8 1959 -0.41800 485 17.4833 187 24
9 1960 -1.97491 763 16.4167 290 23
10 1961 0.00000 830 17.3333 38 22
11 1962 -1.10572 697 16.3000 52 21
12 1963 -1.78098 608 15.7167 155 20
13 1964 -1.18435 402 17.2667 96 19
14 1965 -2.24194 602 15.3667 267 18
15 1966 -0.74943 819 16.5333 86 17
16 1967 -1.65388 714 16.2333 118 16
17 1968 -2.25018 610 16.2000 292 15
18 1969 -2.14784 575 16.5500 244 14
19 1970 -0.90544 622 16.6667 89 13
20 1971 -1.30031 551 16.7667 112 12
21 1972 -2.28879 536 14.9833 158 11
22 1973 -1.85700 376 17.0667 123 10
23 1974 -2.19958 574 16.3000 184 9
24 1975 -1.20168 572 16.9500 171 8
25 1976 -1.37264 418 17.6500 247 7
26 1977 -2.23503 821 15.5833 87 6
27 1978 -1.30769 763 15.8167 51 5
28 1979 -1.53960 717 16.1667 122 4
29 1980 -1.99582 578 16.0000 74 3
30 1981 . 535 16.9667 111 2
31 1982 . 712 17.4000 162 1
32 1983 . 845 17.3833 119 0
33 1984 . 591 16.5000 119 -1
34 1985 . 744 16.8000 38 -2
35 1986 . 563 16.2833 171 -3
36 1987 . 452 16.9833 115 -4
37 1988 . 808 17.1000 59 -5
38 1989 . 443 . 82 -6
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