(a) First upgrade (b) Second upgrade (c) Third upgrade

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section: Chapter Questions
Problem 22CT
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Question
Suppose that Phone A has a 20% market share initially, with Phone B
having an 80% market share. The transition matrix to the right
represents customers who currently own phones A and B and the
probability that they will upgrade to a new phone A or B. Use this
transition matrix to find the share for each phone after the following
upgrades.
A B
A
0.8
0.2
B
0.25 0.75
(a) First upgrade
(b) Second upgrade
(c) Third upgrade
(a) With the first upgrade, Phone A has % of the market and Phone B has
% of the market.
(Round your answers to two decimal places as needed.)
Transcribed Image Text:Suppose that Phone A has a 20% market share initially, with Phone B having an 80% market share. The transition matrix to the right represents customers who currently own phones A and B and the probability that they will upgrade to a new phone A or B. Use this transition matrix to find the share for each phone after the following upgrades. A B A 0.8 0.2 B 0.25 0.75 (a) First upgrade (b) Second upgrade (c) Third upgrade (a) With the first upgrade, Phone A has % of the market and Phone B has % of the market. (Round your answers to two decimal places as needed.)
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