Answered: 14-14 The University of South Wisconsin…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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14-14 The University of South Wisconsin has had steady enrollments over the past five years. The school has its own bookstore, called University Book Store, but there are also three private bookstores in town: Bill’s Book Store, College Book Store, and Battle’s Book Store. The university is concerned about the large number of students who are switching to one of the private stores. As a result, South Wisconsin’s president, Andy Lange, has decided to give a student three hours of university credit to look into the problem. The following matrix of transition probabilities was obtained:

	UNIVERSITY	BILL’S	COLLEGE	BATTLE’S
UNIVERSITY	0.6	0.2	0.1	0.1
BILL’S	0	0.7	0.2	0.1
COLLEGE	0.1	0.1	0.8	0
BATTLE’S	0.05	0.05	0.1	0.8

At the present time, each of the four bookstores has an equal share of the market. What will the market shares be for the next period?

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