Consider an example where a company initially has a 10% market share. Using an advertising campaign, the probability of a customer will use and stick to the company brand is 80%. On the other hand, the probability of a customers that uses the other Brand is 40%. Question: If the probabilities remain valid over a long period of time, What happens to the companies market share?
Consider an example where a company initially has a 10% market share. Using an advertising campaign, the probability of a customer will use and stick to the company brand is 80%. On the other hand, the probability of a customers that uses the other Brand is 40%. Question: If the probabilities remain valid over a long period of time, What happens to the companies market share?
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 59E: Backup System A space vehicle has an independent backup system for one of its communication...
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