P = 
0.8   0.2
, and T =  
0.3   0.7
0.4   0.6
(a) What is the probability of moving from state 1 (as a current state) to state 2 (as a first following state)?

(b) What is state 2's current market share?

(c) Find PT.

(d) Find PT2.

(e) Draw a tree diagram illustrating P and T.

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in