Question

2. The goal of corporate sustainability is to manage the environmental, economic and social effects of a corporation’s operations so it is profitable over the long-term while acting in a responsible manner to society. A Nielsen survey found that 55% of global respondents are willing to pay extra for products and services from companies that are committed to positive social and environmental impact. Suppose you select a random sample of 100 global responders what is the probability that in the sample fewer than 50% are willing to pay extra for products that are committed to positive social and environmental impact?

Answer 1

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) = loo we will use birsunal probability. Griven Probability (6) = 0.55 Pro Sample size (on) = loo we have to find plac <250) die so of too i. Placso) = P(x=0) + Pla=1) to ..t ple=49) slobolous Li-o.soo tloocgloss)? *(-0.59) **+...+ loro pero-519) 100 49 N1-0.55) 0.1346 + o o hos ewer Probability that fewer than 50% is willing to pay extra = 0.1346