A Local Menʹs Clothing Store Is Being Sold

question 20

Multiple Choice

A local menʹs 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 The buyers are trying to estimate the percentage of items that are outdated.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 storeʹs
Inventory in order to determine the proportion of merchandise that is outdated.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Owners have never determined the percentage of outdated merchandise and cannot help the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 99% confident that the margin of
Error of their estimate is about 5%?

• A)1327
• B)258
• C)2653
• D)664

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Definitions:

Culture

The shared beliefs, practices, norms, and values of a group of people that inform their way of life and social interactions.

Stimulus Motives

Drives that are unlearned and lead to an increase in stimulation, such as curiosity or exploration.

Learned

Acquired or developed through experience or education.

Behave Aggressively

Exhibiting actions or behaviors that intend to harm or intimidate others physically or psychologically.