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

question 99

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 the U.S. plan to
spend more on holiday shopping is ________.

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Definitions:

Straight-Ticket Voting

Straight-ticket voting is the practice of voting for all the candidates of the same political party on a ballot.

Independents

Voters or political candidates who do not affiliate with any established political party.

Winner-Take-All

An electoral system in which the candidate who receives the most votes wins the entire election or all available seats, as opposed to proportional representation systems.

Proportional Representation

A voting system where the allocation of seats to parties is directly proportional to the amount of votes they receive.