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Please see table below GDP growth rates of a group 5 countries. I am trying to derive some conclusions from this small sample.

1. can I conclude that countries in the group have very similar growth rates and there is no significant difference between their growth rates?

2. As shown, the highest growth rate is just one std. dev. higher than the sample average. However, I am not sure if the std. dev. of such a small sample mean anything?

3. What would I need to do to be able to say that there is no statistically significant difference between these growth rates?

Thanks.

--------------------------------

Country GDP growth rates

A ---- 3.3%

B ---- 3.0%

C ---- 2.9%

D ---- 2.8%

E ---- 2.4%

Average 2.9%

Std. dev 0.3%

Range 0.9%

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# Deriving conclusion from a small data set

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