Instruction 18-12
Recently,a University Switched to a New Type of Computer-Based

question 64

True/False

Instruction 18-12
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.
$\begin{array}{rrrr}\text { Day } & \text { Range } & \text { Mean } & \text { Std.Dev. } \\\hline { 1 - 3 } & 10 & 5.250 & 3.4949 \\2 & 31 & 15.250 & 10.3060 \\3 & 13 & 20.375 & 4.9262 \\4 & 21 & 22875 & 8.3911 \\5 & 35 & 8.500 & 11.3767 \\6 & 18 & 7.875 & 6.9372 \\7 & 25 & 11.250 & 8.5815 \\8 & 30 & 7.875 & 9.5235 \\9 & 17 & 10.250 & 6.3640 \\10 & 22 & 9.500 & 7.8740\\11 & 27 & 7.875 & 8.7086 \\12 & 26 & 12875 & 9.3723\\\end{array}$
-Referring to Instruction 18-12,based on the R chart,it appears that the process is out of control.

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Definitions:

Profit

The financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Contango

A situation in futures trading where the future price of a commodity is higher than the spot price, often indicating expectations of rising prices.

Natural Hedgers

Entities or individuals who inherently have an opposite risk exposure compared to their needed market position, allowing them to hedge their risks without having to use derivative products.

Backwardation

Backwardation is a market condition in which futures prices are lower in the distant delivery months than in the near delivery months, often indicating a shortage of the commodity in the spot market.