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

question 118

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 China plan to spend more
on holiday shopping is ________.

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Definitions:

Reinforcement

In behavioral psychology, a process that increases the likelihood of a behavior being repeated, usually by providing a reward.

E-Mail

A method of exchanging digital messages over the Internet between people using electronic devices.

Fixed Interval

A schedule of reinforcement where the first response is rewarded only after a specified amount of time has elapsed.

Reinforcement

In behavior psychology, a stimulus or event that follows a behavior and increases the likelihood of that behavior occurring again.