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Instruction 18-9
Recently, a University Switched to a New Type

question 117

True/False

Instruction 18-9
Recently, a university switched to a new type of computer-based registration. The registrar is concerned with the amount of time students are spending on the computer registering under the new system. She decides to randomly select eight students on each of the 12 days of the registration and determine the time each spends on the computer registering. The range, mean, and standard deviation of the times required to register are in the table that follows.
 Day  Range  Mean  Std. Dev 1105.2503.494923115.25010.306031320.3754.926242122.8758.39115358.50011.37676187.8756.937272511.2508.58158307.8759.523591710.2506.364010229.5007.874011277.8758.7086122612.8759.3723\begin{array}{llll}\text { Day } &\text { Range } & \text { Mean }&\text { Std. Dev }\\\hline1 & 10 & 5.250 & 3.4949 \\2 & 31 & 15.250 & 10.3060 \\3 & 13 & 20.375 & 4.9262 \\4 & 21 & 22.875 & 8.3911 \\5 & 35 & 8.500 & 11.3767 \\6 & 18 & 7.875 & 6.9372 \\7 & 25 & 11.250 & 8.5815 \\8 & 30 & 7.875 & 9.5235 \\9 & 17 & 10.250 & 6.3640 \\10 & 22 & 9.500 & 7.8740 \\11 & 27 & 7.875 & 8.7086 \\12 & 26 & 12.875 & 9.3723\end{array}
-Referring to Instruction 18-9,based on the chart,it appears that the process is in control.


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Creative Destruction

An economic concept where innovation destroys old products, services, or processes to make way for new ones, driving economic development.

Market System

An economic system where decisions regarding investment, production, and distribution are based on supply and demand, guiding the allocation of resources through the price mechanism.

Entrepreneurship

The process of designing, launching, and running a new business, which initially is a small business offering a product, process, or service for sale or hire.

Regulation

The establishment of rules and laws by governments or regulatory bodies to control or govern conduct within various fields or industries.

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