I (Markov chain model)Question 3.Three big companies, A, B, and C, share cus-tomers in one region: A has 50% share of cus-tomers, B has 30%, and C has 20%. Each wantsto increase its share of customers, and to do so,each introduces a new promotion. After one year,it is learned that(i) A keeps 70% of its customers and loses20% to B and 10% to C.(ii) B keeps 60% of its customers and loses20% to A and 20% to C.(iii) C keeps 50% of its customers and loses30% to A and 20% to B.Questions:(a) What is the transition matrix for thatmodel?(b) What is the share of customers of each su-permarkets after 2 years?(c) In the long term, what is the share of eachcompanies?

Based on the given conditions, the Markov chain can be represented as:

(Markov chain model) Question 3. Three big companies, A, B, and C, share cus- tomers in one region: A has 50% share of cus- tomers, B has 30%, and C has 20%. Each wants to increase its share of customers, and to do so, each introduces a new promotion. After one year, it is learned that

(Markov chain model) Question 3. Three big companies, A, B, and C, share cus- tomers in one region: A has 50% share of cus- tomers, B has 30%, and C has 20%. Each wants to increase its share of customers, and to do so, each introduces a new promotion. After one year, it is learned that

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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