Stat Final Cheat Sheet.docx - u2022 Point estimates value...

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• Point estimates - value of a single stat ie mean • Confidence intervals (Point Estimate, Critical Value, Standard Error) • Confidence interval calculation (σ known and unknown; mean and proportion) 8.57 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: = 42 hours, S = 8 hours. Thirteen smallXto midsize companies lost customers as a result of a ransomware incident a. Construct a 99% confidence interval estimate for thepopulation meantime spent dealing with and containing a ransomware incident. ̄ ± b. Construct a 95% confidence interval estimate for the population proportion .

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