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

question 43

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 Canada, what is the
probability that the consumer plans to spend more on holiday shopping and is not willing to share
personal information with retailers in order to receive personalized offers from retailers?

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Definitions:

Mixed/Whole Numbers

Numbers consisting of both a whole number and a fractional part, commonly used in everyday measurements.

Apartment Building

A residential building containing multiple apartments for rent.

Business Revenue

The total income generated by a company from its normal business operations before any expenses are subtracted.

Percent Reduced

A measure of how much a number or value is decreased expressed as a percentage.