In a study of the domestic market share of the three major automobile manufacturers A, B, and C in a certain country, it was found that their current market shares were 50%, 25%, and 25%, respectively. Furthermore, it was found that of the customers who bought a car manufactured by A, 75% would again buy a car manufactured by A, 15% would buy a car manufactured by B, and 10% would buy a car manufactured by C. Of the customers who bought a car manufactured by B, 90% would again buy a car manufactured by B, whereas 5% each would buy cars manufactured by A and C. Finally, of the customers who bought a car manufactured by C, 85% would again buy a car manufactured by C, 5% would buy a car manufactured by A, and 10% would buy a car manufactured by B. Assuming that these sentiments reflect the buying habits of customers in the future, determine the market share that will be held by each manufacturer after the next two model years. (Round your answers to the nearest percent.) A X % В X % X % Enter a number. Need Help? Read It

In a study of the domestic market share of the three major automobile manufacturers A, B, and C in a certain country, it was found that their current market shares were 50%, 25%, and 25%, respectively. Furthermore, it was found that of the customers who bought a car manufactured by A, 75% would again buy a car manufactured by A, 15% would buy a car manufactured by B, and 10% would buy a car manufactured by C. Of the customers who bought a car manufactured by B, 90% would again buy a car manufactured by B, whereas 5% each would buy cars manufactured by A and C. Finally, of the customers who bought a car manufactured by C, 85% would again buy a car manufactured by C, 5% would buy a car manufactured by A, and 10% would buy a car manufactured by B. Assuming that these sentiments reflect the buying habits of customers in the future, determine the market share that will be held by each manufacturer after the next two model years. (Round your answers to the nearest percent.) A X % В X % X % Enter a number. Need Help? Read It

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Related questions

Q: The director of computer technology in Emerson School District wants to gather information about the…

A: a) The given research can be classified as Qualitative as it considers an in-depth analysis of…

Q: A panel of dentists is interested in testing two different toothpaste brands (A and B) to see if…

A: Testing of Hypothesis: Testing of hypothesis is a rule which, when the sample values have been…

Q: At LLD Records, some of the market research of college students is done during promotions on college…

A: Given, By applying ANOVA for single factor,

Q: ntering freshmen in 2016 who graduated in the botom third f their high school class. Is there…

A: For z = 1.980 and for one tailed test, the corresponding p value is 0.024 which can be obtained by…

Q: ) What is the probability that 6 nonvoters have a family income of less than $30,000? b.) What is…

Q: A research wants to determine if pre-natal exposure to the hormones in birth control pills alters…

Q: What is the probability that a randomly selected label produced by the company will contain a…

Q: Each American family is classified as living in an urban, suburban or rural location. During a given…

A: Step 1: Define the Transition MatrixGiven the description, the transition probabilities are as…

Q: The Royal Seas Company runs a three-night cruise to the Caribbean from Port Canaveral. The company…

A: Goal Programming (GP) is a mathematical programming technique used for solving multi-objective…

Q: foreclosures handled by your firm in each of the months shown.

Q: At LLD hucu. ds, some of the market research of college students is done during promotions on…

Q: a. A research survey found that the range of restaurants' profit margins may span between 0% and…

A: The provided information is as follows:The length of the confidence interval is .The total number of…

Q: 3. The city of Mawroke maintains a constant voter of 300,000 people per year. Apolitical science…

Q: 2. A stock market analyst examined the performance of the shares of a large number of corporations.…

A: Empirical Probability : A probability space in which each simple event has an equal probability is…

Q: A panel of dentists is interested in testing two different toothpaste brands (A and B) to see if…

A: Explanatory variable: The variable that can be changed or controlled in the experiment or analysis…

Q: A researcher wants to explore the differences in health effects from two different types of sugar.…

A: One sample t test: A statistical hypothesis test called the one-sample t-test is used to examine…

Q: To determine a target audience for a new software package, a computer company surveyed a large…

A: Given information:Under 1818 – 3536 – 5455+TotalOn a regular basis12010830134392Not on a regular…

Q: A rental car company offers three types of vehicles (compact, mid-size, and full-size).Based on…

A: Given:Percentage of customers choose a compact vehicle = 35%Percentage of customers choose a…

Q: Two years ago the manager of a local supermarket that sells three national brands (brands A, B, and…

A: The test hypotheses are given below: H0: Pith Category observed=ptheorotical; i=1,2,...n H1: Pith…

Q: A researcher wanted to study the tendency of people’s choices to be influenced by their environment,…

A: Given :

Q: a) If an ELT is randomly selected from the general population of all ELTs, find the probability that…

A: Given: Altigauge manufacturing company (A) produces 80% of the ELTs, Bryant company (B) produces…

Q: In the book Business Research Methods (5th ed.), Donald R. Cooper and C. William Emory discuss a…

A: Chi-square test is a nonparametric inferential statistic.

Q: A panel of dentists is interested in testing two different toothpaste brands (A and B) to see if…

A: A sample of 60 patients is recruited to take part in the study.

Q: Each American family is classified as living in an urban, suburban or rural location. During a given…

A: To solve this problem, we need to model the movements of families among urban, suburban, and rural…

Q: a If a family now lives in an urban location, what is the probability that it will live in an urban…

A: Since there are multiple parts first part is answered step by step. Kindly repost for more help.

Q: Ed's Tires and Brakes has two locations, one on the northwest side of town and one on the southeast…

A: Probability is the measure that used to denote the likelihood of an event. If an event already…

Question

In a study of the domestic market share of the three major automobile manufacturers A, B, and C in a certain country, it was found that their
current market shares were 50%, 25%, and 25%, respectively. Furthermore, it was found that of the customers who bought a car manufactured
by A, 75% would again buy a car manufactured by A, 15% would buy a car manufactured by B, and 10% would buy a car manufactured by C. Of
the customers who bought a car manufactured by B, 90% would again buy a car manufactured by B, whereas 5% each would buy cars
manufactured by A and C. Finally, of the customers who bought a car manufactured by C, 85% would again buy a car manufactured by C, 5%
would buy a car manufactured by A, and 10% would buy a car manufactured by B. Assuming that these sentiments reflect the buying habits of
customers in the future, determine the market share that will be held by each manufacturer after the next two model years. (Round your
answers to the nearest percent.)
A
X %
В
X %
X %
Enter a number.
Need Help?
Read It

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Markov Processes and Markov chain$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.

Similar questions

An automobile manufacturer obtains the microprocessors used to regulate fuel consumption in its automobiles from three microelectronic firms: A, B, and C. The quality-control department of the company has determined that 3% of the microprocessors produced by firm A are defective, 4% of those produced by firm B are defective, and 1.5% of those produced by firm C are defective. Firms A, B, and C supply 35%, 20%, and 45%, respectively, of the microprocessors used by the company. What is the probability that a randomly selected automobile manufactured by the company will have a defective microprocessor?
For a within-subjects study comparing two treatments, A and B, a researcher expects that practice in the first treatment will improve the participants scores in the second treatment. If the order of treatments is counterbalanced, then the practice will… A. Influence scores in treatment A, but not in treatment B B. Influence scores in treatment A for half the participants and scores in treatment B for half the participants C. Not influence the scores in either treatment condition because the treatments are counterbalanced D. Influence scores in treatment B, but not in treatment A
The U.S. Department of Transportation reported that during November, 83.4% of Southwest Airlines' flights, 75.1% of US Airways' flights, and 70.1% of JetBlue's flights arrived on time (USA Today, January 4, 2007). Assume that this on-time performance is applicable for flights arriving at concourse A of the Rochester International Airport, and that 40% of the arrivals at concourse Aare Southwest Airlines flights, 35% are US Airways flights, and 25% are jetBlue flights. a) Deveiop a joint probability table with three rows (airlines) and two
A study was conducted to determine whether big-city and small-town dwellers differed in their helpfulness to strangers. In this study, the investigators rang the doorbells of strangers living in a large City or small towns in the vicinity. They explained they had misplaced the address of a friend living in the neighbourhood and asked to use the phone. The following data show the number of individuals who admitted or did not admit the strangers (the investigators) into their homes: Helpfulness to strangers Admitted strangers into their home Didnot admit strangers into their home Big city dwellers 60 90 Small town dwellers 70 30 State the dependent and independent variable Is this a directional or non directional
At LLD Records, some of the market research of college students is done during promotions on college campuses, while other market research of college students is done through anonymous mail, phone, internet, and record store questionnaires. In all cases, the company solicits an "intent-to-purchase" score from the student, with 0 being the lowest score ("no intent to purchase") and 100 being the highest score ("full intent to purchase"). The manager finds the following information for 150 intent-to-purchase scores for a soon-to-be-released CD: Sample Sample Sample size Group mean variance On campus 30 64.5 68.9 By mail 30 63.0 77.1 By phone 30 62.8 125.1 By internet 30 62.3 106.0 In a store 30 68.2 85.9 Send data to calculator Send data to Excel Suppose that the five populations of scores from which these samples were drawn are approximately normally distributed and have the same mean and the same variance. Answer the following, carrying your intermediate computations to at least three…
A research wants to determine if pre-natal exposure to the hormones in birth control pills alters the sex makeup of midshipman fish populations (which are typically half male and half female).Specifically, the researcher wishes to test the hypothesis that exposure to hormones will increase the number of females in the population.The researcher exposes a group of pregnant midshipman fish to birth control hormones and records the sex of the first 13 offspring birthed.They then observe that 11 are female.Use a sign test and a alpha of .05 to test the indicated hypothesis.What is the critical value?
A basketball coach is interested in determining if shooting free throws underhand is better than shooting them using the overhead method. He has four high school teams (two boys' teams and two girls' teams, with 13 players on each team) available to take part in an experiment. He believes that the difference in shooting percentages will vary more for boys than for girls. He randomly chooses and instructs half of the boys to continue shooting free throws overhead and the rest of the boys to shoot underhand. He does the same for the girls. At the end of a six-game summer league, he compares the shooting percentages for the overhead shooting boys to the underhand shooting boys and the overhead shooting girls to the underhand shooting girls. (a) What is the advantage of using a block design for this study? O Blocking by gender will reduce the variation in the response variable by creating homogeneous groups and determining the effect of the new shooting style on the response (percentage of…
A research wants to determine if pre-natal exposure to the hormones in birth control pills alters the sex makeup of midshipman fish populations (which are typically half male and half female).Specifically, the researcher wishes to test the hypothesis that exposure to hormones will increase the number of females in the population.The researcher exposes a group of pregnant midshipman fish to birth control hormones and records the sex of the first 17 offspring birthed.They then observe that 12 are female.Use a sign test to test the indicated hypothesis.What is the value of "significance"
2.
An insurance company offers four different deductible levels-none,low, medium, and high-for its homeowner's policyholders and threedifferent levels-low, medium, and high-for its automobilepolicyholders. The accompanying table gives proportions for the variouscategories of policyholders who have both types of insurance. Forexample, the proportion of individuals with both low homeowner'sdeductible and low auto deductible is .06 (6% of all such individuals). Homeowner's Auto N L M H LMH .04.07.02 .06.10.03 .05.20.15 .03.10.15 Suppose an individual having both types of policies is randomlyselected.a. What is the probability that the individual has a medium auto deductible and a high homeowner's deductible?b. What is the probability that the individual has a low autodeductible? A low homeowner's deductible?c. What is the probability that the individual is in the samecategory for both auto and homeowner's deductibles?d. Based on your answer in part (c), what is the probability…
At LLD Records, some of the market research of college students is done during promotions on college campuses, while other market research of college students is done through anonymous mail, phone, internet, and record store questionnaires. In all cases, the company solicits an "intent-to-purchase" score from the student, with 0 being the lowest score ("no intent to purchase") and 100 being the highest score ("full intent to purchase"). The manager finds the following information for 135 intent-to-purchase scores for a soon-to-be-released CD: Group Sample Sample Sample size mean variance On campus 27 65.6 75.9 By mail 27 65.1 120.3 By phone 27 62.9 45.8 By internet 27 59.3 130.9 In a store 27 70.8 78.8 Send data to calculator Send data to Excel Suppose that the five populations of scores from which these samples were drawn are approximately normally distributed and have the same mean and the same variance. Answer the following, carrying your intermediate computations to at least three…