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

question 38

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 no more than 2 consumers from the U.S. are
willing to share personal information with retailers in order to receive personalized offers from
retailers is ________.

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Definitions:

Income Inequality

The uneven distribution of income within a population, leading to a gap between the wealthy and the poor.

American Mothers

Women living in the United States who have children, characterized by their parenting practices within the context of American culture.

Two-person Single Career

a relationship dynamic where one partner’s career is prioritized, and the other partner supports this, often sacrificing their own career advancements.

Nonworking Spouse

A spouse who does not participate in the formal workforce, often focusing on domestic duties or childcare instead.