Stationary Matrix Consider an example where a company initially has a 10% market sha advertising campaign, the probability of a customer will use and stick to t brand is 80%. On the other hand, the probability of a customers that us Brand is 40%. Question: If the probabilities remain valid over a long period of ● ●

Stationary Matrix Consider an example where a company initially has a 10% market sha advertising campaign, the probability of a customer will use and stick to t brand is 80%. On the other hand, the probability of a customers that us Brand is 40%. Question: If the probabilities remain valid over a long period of ● ●

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Transcribed Image Text:Stationary Matrix Consider an example where a company initially has a 10% market share. Using an advertising campaign, the probability of a customer will use and stick to the company brand is 80%. On the other hand, the probability of a customers that uses the other Brand is 40%. • Question: If the probabilities remain valid over a long period of time, What happens to the companies market share?

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