Question

1. Recently, Bank of America has been the target for a series of scam attempts as hackers try to gain information on employees. As Bank of Americas security, you are tasked with stamping out the phishing attempts against the firm. To do so you decided to study and see how often employees have their accounts compromised. Upon selecting a sample of 300 randomly selected employees, you find that 120 of them have had their accounts compromised due to attacks this year. a. Construct a 95% confidence interval estimate of the true proportion of compromised accounts. b. What managerial conclusion can you state based on the above information. c. What about the true proportion within a 90% confidence interval? d. What are your answers to (a) and (b); if you selected 400 employees and only 120 of them had compromised accounts and you want to be 99.5% confident?

          1. Recently, Bank of America has been the target for a series of scam attempts as hackers try to gain information on employees. As Bank of Americas security, you are tasked with stamping out the phishing attempts against the firm. To do so you decided to study and see how often employees have their accounts compromised. Upon selecting a sample of 300 randomly selected employees, you find that 120 of them have had their accounts compromised due to attacks this year.
a. Construct a 95% confidence interval estimate of the true proportion of compromised accounts.
b. What managerial conclusion can you state based on the above information.
c. What about the true proportion within a 90% confidence interval?
d. What are your answers to (a) and (b); if you selected 400 employees and only 120 of them had compromised accounts and you want to be 99.5% confident?

1. Recently, Bank of America has been the target for a series of scam attempts as hackers try to gain information on employees. As Bank of Americas security, you are tasked with stamping out the phishing attempts against the firm. To do so you decided to study and see how often employees have their accounts compromised. Upon selecting a sample of 300 randomly selected employees, you find that 120 of them have had their accounts compromised due to attacks this year.
a. Construct a 95% confidence interval estimate of the true proportion of compromised accounts.
b. What managerial conclusion can you state based on the above information.
c. What about the true proportion within a 90% confidence interval?
d. What are your answers to (a) and (b); if you selected 400 employees and only 120 of them had compromised accounts and you want to be 99.5% confident?

Added by Jennifer K.

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