Instruction 3-4 The Ordered Array Below Represents the Number of Cargo Manifests

question 119

Short Answer

Instruction 3-4
The ordered array below represents the number of cargo manifests approved by customs inspectors at the Port
of Brisbane in a sample of 35 days.
16,17,18,18,19,20,20,21,21,21,22,22,22,22,23,23,23,23,24,24,24,25,25,26,26,26,27,28,28,29,29,31,31,32,32
Note: For this sample,the sum of the observations is 838,the sum of the squares of the observations is 20,684,
and the sum of the squared differences between each observation and the mean is 619.89.
-Referring to Instruction 3-4,the range of the customs data is ________.

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Definitions:

M2

A measure of the money supply that includes cash, checking deposits, and easily convertible near money, such as savings deposits, small time deposits, and money market mutual funds.

M3

A measure of the money supply that includes M2 plus large time deposits, institutional money market funds, and other larger liquid assets.

Reserve Ratio

The fraction of deposits that banks are required to hold in reserve and not lend out, aimed at controlling the money supply and banking stability.

M3

A measure of the money supply that includes M2 (cash, checking deposits, savings deposits, money market securities) plus large time deposits, institutional money market funds, and other large liquid assets.