Table 10.  Average Returns above Alternative Market Benchmark Revenues for Advisory Service Programs, Corn and Soybeans, 1995 - 1997
           
Average  
Number of Return above
Market Benchmark/ Advisory Benchmark Standard Two-tail
Sample Period Programs Revenue Deviation t-statistic p-value
    (%) (%)      
24-Month Average
1995 25 4.51 8.33 2.71 0.012 **
1996 24 0.26 5.21 0.24 0.810
1997 21 0.47 5.49 0.40 0.696
1995-1997 70 1.84 6.78 2.27 0.026 **
20-Month Average
1995 25 0.37 8.33 0.22 0.826
1996 24 -0.57 5.21 -0.53 0.598
1997 21 2.45 5.49 2.05 0.054 *
1995-1997 70 0.67 6.59 0.85 0.396
12-Month Average
1995 25 -11.75 8.33 -7.05 0.000 ***
1996 24 4.94 5.21 4.64 0.000 ***
1997 21 7.33 5.49 6.12 0.000 ***
1995-1997 70 -0.30 10.80 -0.24 0.815  
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.