Back to school, again. Based on the 74% national retention rate described in Exercise 17, does a college where 522 of the 603 freshman returned the next year as sophomores have a right to brag that it has an unusually high retention rate? Explain.
Exercise 17
Back to school? Best known for its testing program, ACT, Inc., also compiles data on a variety of issues in education. In 2004 the company reported that the national college freshman-to-sophomore retention rate held steady at 74% over the previous four years. Consider random samples of 400 freshmen who took the ACT. Use the 68-95-99.7 Rule to describe the sampling distribution model for the percentage of those students we expect to return to that school for their sophomore years. Do you think the appropriate conditions are met?