A survey was conducted on a random sample of students at a college campus to study student opinions on the new honors program. Out of the students surveyed, 78% rated the new honors program as "very rigorous" with a margin of error of ±3% and a confidence interval of 90%. What does the margin of error imply?1. It can be concluded, with 90% confidence, that at least 75% of all students will rate the new honors program as "very rigorous."2. It can be concluded, with 78% confidence, that at least 87% of all students will rate the new honors program as "very rigorous."3. It can be concluded, with 78% confidence, that between 87% and 93% of all students will rate the new honors program as "very rigorous."4. It can be concluded, with 90% confidence, that between 75% and 81% of all students will rate the new honors program as "very rigorous."