A Local Menʹs Clothing Store Is Being Sold

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 The buyers are trying to estimate the percentage of items that are outdated.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Inventory in order to determine the proportion of merchandise that is outdated.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Owners have never determined the percentage of outdated merchandise and cannot help the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