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

question 66

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 at least 3 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:

Tile Manufacturer

A company specializing in the production of tiles, which are pieces of hard-wearing material such as ceramic, stone, or metal used for covering roofs, floors, walls, or other objects.

Selling Price

The amount charged to customers for goods or services, determining the revenue generated from sales.

Sales Volume

The number of units of a product sold in a particular period, indicative of the level of demand and operational success.

Net Operating Income

A company's income after operating expenses are subtracted but before deducting taxes and interest charges.