ACT, Inc. In 2004, ACT, Inc. reported that 74% of 1644 randomly selected college freshmen returned to col- lege 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.