.The market share of two companies A and B is 30% and 70% in the current time period. The information obtained in terms of the customer loss and retention is given by the matrix P. P = [0.3 0.21 Lo.7 0.8] i.Determine the transition probability matrix in the 1st and 2nd month. ii.What is the steady state of the two companies?

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c. The market share of two companies A and B is 30% and 70% in the current time period. The
information obtained in terms of the customer loss and retention is given by the matrix P.
[0.3 0.2]
P =
Lo.7 0.8]
i.Determine the transition probability matrix in the 1st and 2nd month.
ii.What is the steady state of the two companies?
Transcribed Image Text:c. The market share of two companies A and B is 30% and 70% in the current time period. The information obtained in terms of the customer loss and retention is given by the matrix P. [0.3 0.2] P = Lo.7 0.8] i.Determine the transition probability matrix in the 1st and 2nd month. ii.What is the steady state of the two companies?
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