We are interested in estimating the proportion of graduates at a mid-sized university who found a job within one year of completing their undergraduate degree. Suppose we conduct a survey and find out that 348 of the 400 randomly sampled graduates found jobs. The graduating class under consideration included over 4500 students.

Calculate a 95% confidence interval for the proportion of graduates who found a job within one year of completing their undergraduate degree at this university, and interpret it in the context of the data.