SOLUTION: Exercise 7.2 # 7.30 According to the U.S. Bureau of Labor Statistics publication News, self-employed persons with home-based businesses work a mean of 23 hours per week at home

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Question 266610: Exercise 7.2 # 7.30
According to the U.S. Bureau of Labor Statistics publication News, self-employed persons with home-based businesses work a mean of 23 hours per week at home with a standard deviation of 10 hours.
a. Identify the population and variable
b. For samples of size 100, find the mean and standard deviation of all possible sample mean hours worked per week at home.
c. Repeat part (b) for samples of size 1000

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Exercise 7.2 # 7.30
According to the U.S. Bureau of Labor Statistics publication News, self-employed persons with home-based businesses work a mean of 23 hours per week at home with a standard deviation of 10 hours.
a. Identify the population and variable
Population: All US employed persons with home-based businesses
Variable: A random individual from that population.
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b. For samples of size 100, find the mean and standard deviation of all possible sample mean hours worked per week at home.
Mean of the sample means: 23 hrs
Standard deviation of the sample means: 10/sqrt(100) = 1
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c. Repeat part (b) for samples of size 1000
I'll leave that to you.
Cheers,
Stan H.