Concept explainers
OHaganBooks.com has two main competitors—JungleBooks.com and FarmerBooks.com—and no other competitors of any significance on the horizon. Exercises 39–42 are based on the following table, which shows the movement of customers during July.42 (Thus, for instance, the first row tells us that 80% of OHaganBooks.com’s customers remained loyal, 10% of them went to JungleBooks.com, and the remaining 10% went to FarmerBooks.com.)
At the beginning of July, OHaganBooks.com had an estimated 2,000 customers, while its two competitors had 4,000 each.
Competition Assuming that the July trends continue in August, why is it not possible for a customer of FarmerBooks.com on July 1 to have ended up as a JungleBooks.com customer 2 months later without having ever been an OHaganBooks.com customer?
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Finite Mathematics and Applied Calculus (MindTap Course List)
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