SCENARIO 4-12 A Consulting Firm That Surveyed Consumers' Holiday Shopping Behavior Found

question 150

Essay

SCENARIO 4-12
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. Assume that there are equal portions of consumers being surveyed from each of
the three countries, the survey results are good representations of the three populations of consumers,
and whether a consumer plans to spend more on holiday shopping is statistically independent of
whether he/she is willing to share personal information with retailers in order to receive personalized
offers from retailers.
-Referring to Scenario 4-12, if you randomly select a consumer from any of the three countries,
what is the probability that the consumer plans to spend more on holiday shopping and is willing
to share personal information with retailers in order to receive personalized offers from retailers?

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Definitions:

Jihad

An Arabic term meaning "struggle" or "striving," especially with a praiseworthy aim, often used in the context of religious duty in Islam.

Spiritual Community

A group of individuals who share common religious or spiritual beliefs and practices, often gathering for worship, support, and communal activities.

Cultural Imperialism

The practice of promoting and imposing a culture, usually that of a politically powerful nation, over a less powerful society.

Consumerism

Is the tendency to define ourselves in terms of the goods we purchase.