Question: 3. Formulate and test a hypothesis to determine if statistical evidence suggests that the graduation rate for either top liberal arts colleges or research universities

3. Formulate and test a hypothesis to determine if statistical evidence suggests that the graduation rate for either top liberal arts colleges or research universities in the sample Colleges and Universities exceeds 90%. Do the data support a conclusion that the graduation rate exceeds 85%? Would your conclusions change if the level of significance were 0.01 instead of 0.05?

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