Students are going through a three-step process to obtain their ID cards. Each student will first spend 4 minutes at the (only one) registration desk. After that, he/she will visit one of three stations to have his/her picture taken, which takes 10 minutes on average. Finally, there is one machine that prints ID cards, and it takes 2 minutes to print a card. The demand rate is 12 students/hour. The process just completes serving a student. Required:
How long does it take to finish serving the following 10 students?

Consider a treasury bill with a rate of return of 5% and the following risky securities: security a: e(r) = .15; variance = .0400 security b: e(r) = .10; variance = .0225 security c: e(r) = .12; variance = .1000 security d: e(r) = .13; variance = .0625 the investor must develop a complete portfolio by combining the risk-free asset with one of the securities mentioned above. the security the investor should choose as part of her complete portfolio to achieve the best cal would be a. security a b. security b c. security c d. security d