Suppose the population consists of FIVE individuals and the elements are: S ...

Suppose the population consists of FIVE individuals and the elements are: S= {3, 6, 9, 12, and 15} Obtain samples of size 3 (use counting rule). Obtain the population mean and variance, sample means and variances of the distribution. Would the mean and variance change if the sample size were to increase? Prepare two excel tables.

a) In an excel table show the various samples (Table-1).

b) Calculate the population mean and variance (Table-1).

c) Calculate the sample mean and standard deviation (Table-1).

d) Why does the population mean and variance differ from sampling distribution of mean and variances?