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

question 58

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 none of the 5 consumers from Canada are willing
to share personal information with retailers in order to receive personalized offers from retailers is
________.

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Definitions:

Adrenal Glands

A pair of endocrine glands that sit just above the kidneys and secrete hormones (epinephrine and norepinephrine) that help arouse the body in times of stress.

ACh Antagonist

An ACh antagonist is a type of drug that blocks the action of acetylcholine, a neurotransmitter, at its receptor sites, affecting the nervous system's functions.

ACh Agonist

A substance that mimics the action of acetylcholine, a neurotransmitter, thereby stimulating the parasympathetic nervous system.

Curare

A poisonous compound that comes from certain plants, traditionally used on arrow tips in South America for hunting; it blocks nerve impulses to muscles, causing paralysis.