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This study examined the day-of-the-week effect and January Effect in the crude oil returns for the period March 30th 1983 through October 12th 2012. The results of this study indicate the presence of the day-of-the-week effect in Crude Oil Markets. The results of this study also indicate that there may be a daily seasonality in the variance of oil returns. However, the findings of this study show that January effect in the crude oil market does not exist in the mean returns or variance.

At TXA&M University (TAMU) , one of several educational goals. which the NSF CRCD Aerospace Engineering "Smart Materials" Project identified in 2001 wus to impact students' learning of team-based design knowledge as a result of new curriculum it would introduce at various levels of the undergraduate program. This paper will describe the systematic processes by which the Transferable Integrated Design Engineering Education (TIDEE) Project's Mid Program Design Assessment instrument for measuring Design Knowledge, has been used, analyzed, and adapted at TAMU to establish baselines and benchmarks to serve in the assessment of the CRCDproject impact on design knowledge. Thefirst adaptation and use of the test occurred early in fall 2001 with freshmen and with senior, capslone design students. Follow-up testing was administered to the same seniors, and to dmflerent freshmen in late spring of 2002. In addition to discussing the test adaptarion development process, this paper will examine results of baseline and benchmark testing. Index Terms -CRCD, TIDEE, Rubric, Engineering design. TEST DEVELQPMENT AND BENCH~~ARK~VCAt TX A&M University, one of several educational goals, which the NSF CRCD Aerospace Engineering "Smart Materials" Project identified in 2001 was to impact shldents' learning of team-based design knowledge as a result of new curriculum it would introduce at various levels of the undergraduate program. In order to set a course for the evaluation of that CRCD Project goal it was necessary to establish baselines and benchmarks for team-based design knowledge against which program impact on this knowledge might be assessed.It is assumed that students learn about team design process, teamwork and communication, throughout the course of their undergraduate education. Nevertheless, many engineering programs do not specifically address the formal assessment of design in their curriculum until the final stages of the student's undergraduate career. Most assessments focus upon design products, and possibly, upon the knowledge of design processes collectively demonstrated by a team, rather than assessing an individual student's knowledge of team based design processes. The Transferable Integrated Design Engineering Education (TIDEE) Projects' Mid Program Design Assessment instruments'. which were available on the TIDEE website in summer 2001, offered a thoughtfully 0-7803-7444-4/02/$17.00 0 ZOO2 IEEE constructed, practical, well documented and tested instrument measuring an individual's knowledge of team design processes. The instrument on which we focused our field testing and adaptation development', consis ted of three questions intended to elicit knowledge about three aspects of t'he team-based design process: (1) the design problemsolving process; (2) the function and operation of a team in a design project; (3) the qualities of the communication required in a team-hased design project. Our first adaptation and use of the TIDEE Design Knowledge test occurred early in fall 2001 with one class of freshmen and with s...