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

question 78

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. are willing to
share personal information with retailers in order to receive personalized offers from retailers is
________.

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Definitions:

Debtor Nation

A country that has a net debt to other countries, meaning its external liabilities exceed its external assets.

Foreign Assets

Investments in foreign countries, including stocks, bonds, real estate, or direct investments in business ventures.

Current Account

Part of a country's balance of payments, it includes the trade balance, net income from abroad, and net current transfers.

Capital Account

A national account that records transactions involving the purchase and sale of assets, such as property rights and stocks, between residents and non-residents.