A local men's clothing store is being sold. The buyers are trying to estimate the percentage of items that are outdated.

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899566
Joined: Mon Aug 02, 2021 8:13 am

A local men's clothing store is being sold. The buyers are trying to estimate the percentage of items that are outdated.

Post by answerhappygod »

A Local Men S Clothing Store Is Being Sold The Buyers Are Trying To Estimate The Percentage Of Items That Are Outdated 1
A Local Men S Clothing Store Is Being Sold The Buyers Are Trying To Estimate The Percentage Of Items That Are Outdated 1 (47.02 KiB) Viewed 4 times
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 The buyers are trying to estimate the percentage of items that are outdated. They will choose a random sample from the store's inventory in order to determine the proportion of merchandise that is outdated. We want our 95% confidence interval to have a margin of error of no more than plus or minus 1%. How large of a sample do the buyers need? Hint: Don't forget that if you are using the formulas, your answer should be a whole number, rounded up.
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”