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

question 71

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 China plan to spend
more on holiday shopping is ________.

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Definitions:

Maintaining Beliefs

The act of persistently holding onto one's values, principles, or opinions despite challenges or contradictions.

Influence Tactic

A strategy designed to sway or change others' beliefs, attitudes, or behaviors.

Consistency

The adherence to the same principles, course, or form in actions, behavior, or results, contributing to reliability and predictability.

Social Commerce

The integration of online social networks with e-commerce transactions, enabling the buying and selling of products directly on social media platforms.