Chapter 11.CR, Problem 20CR

To determine

(a)

To find:

Probability of moving from state $1$ to state $2$.

To determine

(b)

To find:

The current market share of state $2$.

To determine

(c)

To find:

The value of $PT$.

To determine

(d)

To find:

The value of $P{T}^2$.

To determine

(e)

To find:

The tree diagram to illustrate $P$ and $T$.