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

question 71

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 less than 4 consumers from China plan to spend
more on holiday shopping is ________.

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Definitions:

Specific Phobia

An intense, irrational fear of a specific object, situation, or activity that leads to avoidance behavior.

Fearful Response

A psychological and physiological reaction to perceived threats, involving fear or anxiety.

Genetic Influences

The impact of genes inherited from parents on the physical and behavioral characteristics of an individual.

Identical Twins

Twins who are genetically identical because they were conceived from one egg that split into two.