Consider the population of 5 companies given below. Champaign Indage A 3 Charminar Breweries B 4 Hindustan Breweries C 2 Sica Breweries D 3 Skol Breweries E 1 Calculate the Mean and standard deviation for the above population. Select every possible sample of size 3. For example, ABC is one sample; ABD is another and so on. You will have a total of 10 samples. Calculate the average (mean, ) for each of the samples. You will have 10 averages ( 1 10). Calculate the average of these 10 sample means (call this overall mean, ). Also calculate the standard deviation of these 10 sample means using the formula

Calculate the Mean and standard deviation for the above population. Select every possible sample of size 3. For example, ABC is one sample; ABD is another and so on. You will have a total of 10 samples. Calculate the average (mean, ) for each of the samples. You will have 10 averages ( 1 10). Calculate the average of these 10 sample means (call this overall mean, ). Also calculate the standard deviation of these 10 sample means using the formula = ( ) 2 10 =1 10