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-year college students drawn each year.
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