Number of Fish Tanks

question 18

Essay

Number of Fish Tanks
The following data give the number of fish tanks owned for a population of 4 families.

-{Number of Fish Tanks Narrative} A sample of size 2 is drawn at random from the population.Use the formulas and to calculate the mean and the standard deviation of the sampling distribution of the sample means.

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Definitions:

Net Loss

The amount by which total expenses exceed total revenues in a specific period, indicating financial loss.

Balance Sheet

A financial statement that provides a snapshot of a company’s financial position by listing assets, liabilities, and equity at a specific point in time.

Owner's Equity

The residual interest in the assets of a business after deducting liabilities, representing the ownership interest of the shareholders or owners.

Beginning Balance

The amount of money or value of an account or inventory present at the start of a financial period before any transactions have occurred.