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

question 45

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 China 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:

Frequency

The number of occurrences of a repeating event per unit of time, often used in the context of waves (such as sound or light) to indicate cycles per second (Hz).

Timbre

The quality of a musical note or sound that distinguishes different types of sound production, such as voices or musical instruments.

Wavelength

The distance between successive crests of a wave, especially points in a sound wave or electromagnetic wave.

Middle Ear

The section of the ear between the eardrum and the inner ear, containing three bones that amplify sound.