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

question 148

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

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Definitions:

Hominin Tools

Artifacts made by early humans and their predecessors used for various purposes like hunting and tool-making.

Million Years Ago

A time scale used to describe events or phenomena that occurred a specific number of millions of years in the past.

Oldest

Referring to something or someone with the greatest age in a group or of its kind.

Dental Force

The magnitude of pressure applied by the teeth during biting or chewing.