In 1970, 36% of first-year college students thought that "being very well off financially is very important or essential." By 2000, the percentage had increased to 74%. These percentages are based on...

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In 1970, 36% of first-year college students thought that "being very well off financially is very important or essential." By 2000, the percentage had increased to 74%. These percentages are based on nationwide multistage cluster samples.a)is the difference important? or does the question make sense?b)does it make sense to ask if the difference is statistically signficant? can you answer on the basis of the information given?c) repeat (b), assuming the percentages are based on independent simple random samples of 1,000 first year college students drawn each year

Answered Same DayDec 23, 2021

Answer To: In 1970, 36% of first-year college students thought that "being very well off financially is very...

David answered on Dec 23 2021
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In 1970, 36% of first-year college students thought that "being very well off financially is very
important or essential." By 2000, the percentage had increased to 74%. These percentages are based
on nationwide multistage cluster samples.
a) Is the difference important? or does the question make sense?
b) Does it make sense to ask if the difference is statistically significant? can you answer on the basis of
the information given? c) repeat (b), assuming the percentages are based on independent simple
random samples of 1,000 first...
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