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Confidence interval estimate for the population mean time

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Reference no: EM132474331

An information technology (IT) provider of cloud backup and restore solutions for small to midsize businesses wants to study the consequences of ransomware attacks. A random sample of 50 small to midsized companies in the United States that have experienced a ransomware attack reveals the following:

Time spent dealing with and containing a ransomware incident:

X = 42 hours, S = 8 hours

Thirteen small to midsize companies lost customers as a result of a ransomware incident

a. Construct a 99% confidence interval estimate for the population mean time spent dealing with and containing a ransomware incident.

b. Construct a 95% confidence interval estimate for the population proportion of small to midsized companies who have lost customers as a result of a ransomware incident.

Please provide the excel spreadsheet with answers breakdown.

Reference no: EM132474331

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