Table 3.  Number of Market Advisory Services above Alternative Market Benchmark Prices, Wheat, 1995 -1998 Crop Years
             
Number Proportion
Number of of Services of Services
Market Benchmark/ Advisory above above Two-tail
Sample Period Services Benchmark Benchmark Z-statistic p-value  
24-Month Average
1995 24 16 0.67 1.63 0.10 *
1996 23 9 0.39 -1.04 0.30
1997 20 4 0.20 -2.68 0.01 ***
1998 21 1 0.05 -4.15 0.00 ***
1995-1998 88 30 0.34 -2.98 0.00 ***
20-Month Average
1995 24 14 0.58 0.82 0.41
1996 23 7 0.30 -1.88 0.06 *
1997 20 5 0.25 -2.24 0.03 **
1998 21 3 0.14 -3.27 0.00 ***
1995-1998 88 29 0.33 -3.20 0.00 ***
16-Month Average
1995 24 10 0.42 -0.82 0.41
1996 23 7 0.30 -1.88 0.06 **
1997 20 5 0.25 -2.24 0.03 **
1998 21 6 0.29 -1.96 0.05 **
1995-1998 88 28 0.32 -3.41 0.00 ***
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.