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

question 5

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

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Definitions:

Mobile Devices

Portable electronic devices with computing capabilities, such as smartphones and tablets, used for a variety of tasks.

Thread of Message

A sequence of messages or comments that are related or follow a particular topic or conversation, especially in online forums or social media.

Inverted Pyramid Style

A writing style commonly used in news reporting and journalism where the most important information is presented first, followed by details in decreasing order of importance.

Important Information

Data or facts that are crucial or essential to understand a topic, make decisions, or solve problems.