ACT Inc. reported that 74% of 1644 randomly selected first-year college students returned to college the next

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ACT Inc. reported that 74% of 1644 randomly selected first-year college students returned to college the next year. Estimate the national first-year student 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: 9780133899122

3rd Canadian Edition

Authors: Norean D. Sharpe, Richard D. De Veaux, Paul F. Velleman, David Wright

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Question Posted: Jun 26, 2019 10:07 AM

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ACT Inc. reported that 74% of 1644 randomly selected first-year college students returned to college the next

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a This was a random sample of less than 10 of all stud...View the full answer

Business Statistics

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