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Solve the Problem. -The Ages (In Years) of the Four U.S. Vice Presidents

question 138

Essay

Solve the problem.
-The ages (in years) of the four U.S. vice presidents who assumed office after presidential assassinations are
56 (A. Johnson), 51 (C. Arthur), 42 (T. Roosevelt), and 55 (L.B. Johnson). (i) Assuming that 2 of the ages are
randomly selected with replacement, list the 16 different possible samples. (ii) Find the variance of each of the
16 samples, then summarize the sampling distribution of the variances in the format of a table representing the
probability distribution. (iii) Compare the population variance to the mean of the sample variances. (iv) Do the
sample variances target the value of the population variance? In general, do sample variances make good
estimators of population variances? Why or why not?


Definitions:

Consolidated Financial Report

A comprehensive financial statement that combines the financial information of a parent company with that of its subsidiaries, presenting it as a single economic entity.

Exercise Control

The ability of an entity (like a parent company) to govern the financial and operating policies of another entity (like a subsidiary) to benefit from its activities.

Voting Shares

Shares in a company that give the shareholders the right to vote on company matters, such as electing the board of directors.

Non-controlling Shareholders

Shareholders who own shares in a company but do not have sufficient voting power to influence the company's policies or decisions.

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