Table 9.  Average Returns above Alternative Market Benchmark Prices for Advisory Service Programs, Soybeans, 1995 - 1997
           
Average  
Number of Return above
Market Benchmark/ Advisory Benchmark Standard Two-tail
Sample Period Programs Price Deviation t-statistic p-value
    (%) (%)      
24-Month Average
1995 25 5.03 6.12 4.11 0.000 ***
1996 24 2.15 3.14 3.35 0.003 ***
1997 21 1.54 4.01 1.76 0.094 *
1995-1997 70 3.00 4.84 5.18 0.000 ***
20-Month Average
1995 25 2.97 6.12 2.43 0.023 **
1996 24 0.75 3.14 1.17 0.253
1997 21 2.82 4.01 3.22 0.004 ***
1995-1997 70 2.17 4.70 3.86 0.000 ***
12-Month Average
1995 25 -4.13 6.12 -3.37 0.003 ***
1996 24 1.03 3.14 1.61 0.122
1997 21 6.09 4.01 6.95 0.000 ***
1995-1997 70 0.71 6.19 0.955 0.343  
Note:  Three stars indicates significance at the 1% level, two stars indicates significance at the 5% level, and one star indicates significance at the 10% level.