| No | Variable | Hypothesis | Significance | Result | Outcome | |||||||||||||||
| 02 | Return on capital invested (P) | I | 0.0001 | Positive | Cannot reject HØ | |||||||||||||||
| 03 | Working capital requirements (W) | II | 0.0575 | Positive | Cannot reject HØ | |||||||||||||||
| 04 | Bank borrowing by UK construction (F) | II | 0.0000 | Positive | Cannot reject HØ | |||||||||||||||
| 05 | Overall insolvency statistics ( Lt-4 ) | III | 0.0000 | Positive | Cannot reject HØ | |||||||||||||||
| 06 | Velocity of circulation of money (V) | IV | 0.0000 | Negative | Reject HØ | |||||||||||||||
| 07 | Interest rate (R) | IV | 0.5361 | Negative | Reject HØ | |||||||||||||||
| 08 | Change in construction output ( DQ ) | V | 0.1932 | Negative | Reject HØ | |||||||||||||||
Table No 5: Outcome of hypothesis tests