Slightly confused about U Chicagos's acceptence rate?

[vonlost]

<p><a href=“http://web.reed.edu/ir/cds/cds0607/cdssecb200607.html[/url]”>http://web.reed.edu/ir/cds/cds0607/cdssecb200607.html&lt;/a&gt; B22 says that first-to-second year retention was 90% last year. Reed has been working hard at improving retention, so it seems to be paying off.</p>