SCENARIO 5-7 A Consulting Firm That Surveyed Consumers' Holiday Shopping Behavior Found

question 149

Short Answer

SCENARIO 5-7
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. The survey also found that the percentage of
consumers from the U.S., Canada, and China who said that they were willing to share personal
information with retailers in order to receive personalized offers from retailers were 55%, 46% and
72%, respectively. Suppose you randomly select 5 consumers from each of the three countries.
-Referring to Scenario 5-7, the probability that all 5 consumers from the U.S. plan to spend more
on holiday shopping is ________.

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Definitions:

Selenium

A non-metallic chemical element with properties similar to sulfur and tellurium, used in electronic components and as a dietary supplement.

Elemental Symbol

A notation of one or two letters representing a chemical element, often derived from its English name or Latin origin.

Tungsten

A hard, rare metal under standard conditions, with the highest melting point of all the elements, used in light bulb filaments and steel alloys.

Elemental Symbol

A one or two-letter abbreviation used to represent an element on the periodic table.