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

question 82

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 more than 4 consumers from China are willing to
share personal information with retailers in order to receive personalized offers from retailers is
________.

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Definitions:

Moral Right

A principle or standard of behavior which is universally accepted as correct or beneficial in the promotion of fairness, justice, or societal well-being.

Privacy

The state or condition of being free from being observed or disturbed by other people.

Unethical

Actions or behaviors that violate moral principles or accepted standards of conduct, often causing harm or disadvantage to others.

Handcuffs

Restraint devices consisting of two metal rings connected by a chain or bar, used to secure a person's wrists together.