1. Table contains information about three beverage companies: FruitJuice Plc, Cordial Plc and PopDrink Plc who are similar in terms of market capitalization. Assume the samples are independent of each other and the data is normally distributed.

Table 4: FruitJuice Plc, CordialPlc and PopDrink Plc Statistics

Companies	Population Standard Deviation	Sample Mean	Sample Standard Deviation	Sample Size
FruitJuice Plc	5%	8%	3.5%	36
Cordial Plc	5%	7.5%	3%	40
PopDrink Plc	5.5%	9%	4%	30

1. Evaluate whether a statistically significant difference exists in the average returns of FruitJuice Plc and PopDrink Plc. Assume a significance level of 5 per cent.
2. If the sample size for FruitJuice Plc and PopDrink was n=15 and n=20 respectively, would you apply the same statistical test as that used in part (i)? Please support your answer with a detailed rationale.
3. Assume Cordial Plc is represented by n=10 and PopDrink Plc is represented by n=12, evaluate whether a statistically significant difference exists in the variances of the two securities.