The Number of Books Sold Over the Course of the Four-Day

question 59

Essay

The number of books sold over the course of the four-day book fair were 194, 197, 247, and 76. Assume that samples of size 2 are randomly selected with replacement from this
population of four values. List the different possible samples, and find the mean of each of
them.

---

Definitions:

Technologies

The application of scientific knowledge for practical purposes, especially in industry and everyday life.

Resource Endowments

The natural resources, capital, and human skills that a country or region possess, which can influence its economic development and trade patterns.

IACs

Industrialized Advanced Countries, a term sometimes used to refer to economically developed countries with high levels of industrialization.

Microcredit

Anti-poverty programs that lend small amounts of money to poor entrepreneurs.