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

Question

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

David · Accepted Answer

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,

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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