yep. that's about right.
a Venezuelan roommate taught me how to make rice.
put a little oil in the bottom of the pot, heat on high. Throw in the rice and stir constantly until it becomes opaque white but not burned. Then throw in 2 times as much water as rice plus 1/4 c. Bring to a rolling boil, reduce the heat at once to a very low simmer and cover tightly for 10-12 minutes. We use Basmati rice that we buy in 10 or 20 pound bags from the Indian grocery. If it sticks to the bottom, let it rest covered for a few minutes and the moist heat will release it.
It's great. Also, if you have lots of stuff to cook in addition to the rice, once the rice is cooked, you can leave the lid on and stuff the pot into the oven where the pilot light helps keep it warm while you cook the rest of the dinner. This can be stored in the fridge and reheated in the microwave with a few sprinkles of water when needed. We eat a lot of rice. It's great to have on hand.