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:

Northern Victory

Northern Victory refers to the triumph of the Union (northern states) over the Confederacy (southern states) in the American Civil War, leading to the preservation of the United States and the end of slavery.

Civil War

A war between citizens of the same country or state, often to achieve political independence or change governmental policies.

Major Factors

Essential elements or determinants that play a significant role in influencing or deciding the outcome of a particular situation or in the analysis of a problem.

Thirteenth Amendment

An amendment to the United States Constitution, ratified in 1865, that abolished slavery and involuntary servitude, except as punishment for a crime.