A Local Men's Clothing Store Is Being Sold

question 68

Essay

A local men's clothing store is being sold. The buyers are trying to estimate the percentage of items that are outdated. They will choose a random sample from the 100,000 items in the store's inventory in order to determine the proportion of merchandise that is outdated. The current owners have never determined the percentage of outdated merchandise and cannot help the buyers. How large a sample do the buyers need in order to be 90% confident that the margin of error of their estimate is within 5%?

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Definitions:

Coping

Utilizing conscious effort to solve personal and interpersonal problems in order to manage and minimize stress and conflict.

Denial

A psychological defense mechanism wherein a person refuses to accept the reality of a fact or situation, often as a method of coping with distress.

Cocoanut Grove Nightclub

A historical site of a tragic fire in 1942 in Boston, which resulted in significant loss of life and led to changes in safety standards.

Crisis Intervention

Immediate and short-term psychological care aimed at assisting individuals in a crisis situation to restore equilibrium to their biopsychosocial functioning and to minimize potential psychological trauma.