In the December 1969, American Economic Review (pp. 886–896), Nathaniel Leff reports the following least squares regression results for a cross section study of the effect of age composition on savings in 74 countries in 1964:

ln S/Y = 7.3439 + 0.1596  ln Y/N + 0.0254 ln G − 1.3520 ln D₁ − 0.3990 ln D₂,
ln S/N = 2.7851 + 1.1486 ln Y/N + 0.0265 ln G − 1.3438 ln D₁ − 0.3966 ln D₂,

where S/Y = domestic savings ratio, S/N = per capita savings, Y/N = per capita income, D₁ =percentage of the population under 15, D₂ =percentage of the population over 64, and G = growth rate of per capita income. Are these results correct? Explain.