The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the fcllowing transition probabilities: To From Special B MDA Special B MDA 0.90 0.10 0.05 0.95 a. Wnich brand appears to have the most loyal customers? Explain. b. What are the projected market shares for the two brands?
The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the fcllowing transition probabilities: To From Special B MDA Special B MDA 0.90 0.10 0.05 0.95 a. Wnich brand appears to have the most loyal customers? Explain. b. What are the projected market shares for the two brands?
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter3: Matrices
Section3.7: Applications
Problem 9EQ
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Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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Transcribed Image Text:The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the fcllowing transition probabilities:
To
From
Special B
MDA
Special B
MDA
0.90
0.10
0.05
0.95
a. Wnich brand appears to have the most loyal customers? Explain.
b. What are the projected market shares for the two brands?
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