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

question 145

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 none of the 5 consumers from the U.S. plan to
spend more on holiday shopping is ________.

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Definitions:

Social Register

A directory or list, often published annually, that includes the names and addresses of individuals from the upper class or social elite of a certain area.

Political Issues

Matters relating to governmental policies, practices, or decisions that affect a country or its citizens' lives.

Political Activity

Involves actions or endeavors aimed at influencing government policy or leadership, often through advocacy, campaigning, or voting.

Higher Incomes

Refers to earnings that are significantly above the median or average levels within a given community, region, or country, typically associated with better quality of life and financial security.