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

question 9

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?

Identify and understand lean manufacturing principles and their impact on transaction recording.

Learn the components of the total cycle time and how lean principles affect cycle efficiency.

Understand the concept of value streams within lean manufacturing.

Recognize the differences between push and pull production systems.

---

Definitions:

At Once

Immediately or without any delay.

Unstructured Problems

Issues that lack clear definition or a straightforward solution pathway, often requiring complex decision-making strategies.

Information Deficiencies

Gaps in knowledge that occur when individuals or organizations lack the necessary data to make informed decisions or understandings.

Ambiguous

Something that can be understood in more than one way; lacking clearness or definiteness.