a) b) c) d) Customers tend to exhibit loyalty to product brands but may be persuaded through clever marketing and advertising to switch brands. Consider the case of five brands: A, B, C, D and E. Customers "unyielding" loyalty to a given brand is estimated to switch the other brands with the probabilities given in the following transition matrix. A 4.2 A B с D E 5 3.4 A 0.13 0.12 0.14 0.15 0.14 B 0.14 0.25 0.25 0.16 0.24 с 0.27 0.13 0.16 0.28 0.17 D 0.17 0.22 0.14 0.14 0.21 E 0.29 How long on the average will it take for a brand C customer to switch to brand E? 0.28 0.31 0.27 0.24
a) b) c) d) Customers tend to exhibit loyalty to product brands but may be persuaded through clever marketing and advertising to switch brands. Consider the case of five brands: A, B, C, D and E. Customers "unyielding" loyalty to a given brand is estimated to switch the other brands with the probabilities given in the following transition matrix. A 4.2 A B с D E 5 3.4 A 0.13 0.12 0.14 0.15 0.14 B 0.14 0.25 0.25 0.16 0.24 с 0.27 0.13 0.16 0.28 0.17 D 0.17 0.22 0.14 0.14 0.21 E 0.29 How long on the average will it take for a brand C customer to switch to brand E? 0.28 0.31 0.27 0.24
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 27PPS
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Transcribed Image Text:a)
☎
U
Customers tend to exhibit loyalty to product brands but may be persuaded through
clever marketing and advertising to switch brands. Consider the case of five brands: A,
B, C, D and E. Customers "unyielding" loyalty to a given brand is estimated to switch
the other brands with the probabilities given in the following transition matrix.
10
4.2
A
B
с
D
E
3.4
A
0.13
0.12
0.14
0.15
0.14
B
0.14
0.25
0.25
0.16
0.24
с
0.27
0.13
0.16
0.28
0.17
D
0.17
0.22
0.14
0.14
0.21
E
0.29
0.28
How long on the average will it take for a brand C customer to switch to brand E?
0.31
0.27
0.24
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