The identity of the parents of Jane Walters (17) as Thomas (34) and Jane Walters (35) seems reasonable.
Thomas and Jane were not together in the 1841 census and it is assumed she had died.
There is at least one possible death in 1839.
There is a possible marriage for Jane Jarvis and Thomas Walters in 1821, a year after their daughter Jane was born.

Therefore it is a reasonable assumption, but far from certain, that Jane Jarvis was the mother of Jane Walters.
  

An Ancestry search revealed two possible baptisms for Jane Jarvis in Warwickshire. However, there is nothing so far to indicate that Jane was from Warwickshire.

Baptism - 1808-12-08 (dob 1805-04-03) at St Mary Birmingham to John and Sarah Jarvis
	This Jane would be 15 when her first child was born and at most 16 when she was married.
	Sarah the wife of John Jarvis was burried on the same day (8th Dec 1808 at St Mary's).
Baptism - 1799-12-09 at St Philip Birmingham to Priscilla Jarvis - name given as Jane Thompson Jarvis.
  It is possible that Thompson was the surame name of the father.
	This Jane would be 21 when married.
  Baptism register.

The second seems most likely, but it is not conclusive.
  

Jane was not living with Thomas in the 1841 Census. It appears that he may have remarried and then died in 1850.

Two possible entries for Jane's death:
1838 Birmingham Q3 no ages recorded until 1866
1840 Aston, War Q4 no ages recorded until 1866

There is a burial entry corresponding to the second of the above at St. Martin's Birmingham on 31 Jan 1841.
Jane's age is given as 39 (therefore born in 1801 which would mean that she was 18 when her first child was born).
Her address is given as Moseley Street which is the address of the family when the daughter Ellen bas baptised in 1838.
It seems likely therefore that this is the correct burial.  If the age is correct then she was born in 1801.