SCENARIO 7-8 A Consulting Firm That Surveyed Consumers' Holiday Shopping Behavior Found

question 49

Short Answer

SCENARIO 7-8
A consulting firm that surveyed consumers' holiday shopping behavior found that the percentage of
consumers from the U.S., Canada, and China who said that they planned to spend more on holiday
shopping were 40%, 34% and 73%, respectively. Treat these results as representations of the
populations. Random samples of size 150 are selected from each of the three countries.
-Referring to Scenario 7-8, the standard deviation of all the sample proportions of U.S.
consumers who will spend more on holiday shopping is ________.

---

Definitions:

International Trade

The exchange of goods and services between countries, which allows for greater diversity of products and economic interdependence.

Volume Of Trade

The total quantity of shares or contracts traded for a specific financial instrument or within a market during a certain period.

Textile Products

Items made from fibers, yarns, or fabrics, typically involving processes like weaving, knitting, or felting.

Law Of Comparative Advantage

An economic theory stating that a country should specialize in producing and exporting goods for which it has a lower opportunity cost than its trading partners.