SOLUTION: In 2004, ACT, INC. reported that 74% of 1644 randomly selected college freshman returned to college the next year. Estimate the national freshman-to-sophomore retention rate.
a) C
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a) C
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Question 296597: In 2004, ACT, INC. reported that 74% of 1644 randomly selected college freshman returned to college the next year. Estimate the national freshman-to-sophomore 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. Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! In 2004, ACT, INC. reported that 74% of 1644 randomly selected college freshman returned to college the next year. Estimate the national freshman-to-sophomore retention rate.
a) Check that the assumptions and conditions are met for inference on proportions.
b) Construct a 98% confidence interval
p-hat = 0.74
ME = 2.3263*sqrt(0.74*0.26/1644) = 0.0252
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98% CI: 0.74-0.0252 < p < 0.74+0.0252
98% CI: 0.7148 < p < 0.7652
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c) Interpret your interval
We have 98% confidence that the proportion of freshman who return as
sophomores is between 0.7148 and 0.7652
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d) Explain what "98% confidence" means in this context.
See "c"
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Cheers,
Stan H.
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