44. ACT, Inc. In 2004, ACT, Inc. reported that 74% of 1644 randomly selected college freshmen returned

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44. ACT, Inc. In 2004, ACT, Inc. reported that 74% of 1644 randomly selected college freshmen returned to college the next year. Estimate the national freshman-tosophomore retention rate.

a) Check that the assumptions and conditions are met for inference on proportions.

b) Construct a 98% confidence interval.

c) Interpret your interval.

d) Explain what “98% confidence” means in this context.

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Business Statistics

ISBN: 9780321716095

2nd Edition

Authors: Norean D. Sharpe, Paul F. Velleman, David Bock, Norean Radke Sharpe

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Question Posted: Sep 07, 2024 04:02 AM

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44. ACT, Inc. In 2004, ACT, Inc. reported that 74% of 1644 randomly selected college freshmen returned

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Business Statistics

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