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

question 7

Short Answer

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 is from the U.S. who 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:

REM Behavior Disorder

A sleep disorder characterized by the acting out of dreams during the REM (Rapid Eye Movement) stage of sleep.

Consolidation Theory

A theory suggesting that memories become more stable in the brain over time through a process of consolidation.

REM Sleep

A stage of sleep characterized by rapid eye movements, more dreaming and bodily movement, and faster pulse and breathing.

Slow-Wave Sleep

A deep sleep stage characterized by slow brain waves, minimal body movement, and reduced response to external stimuli.