The four brands of soap have the current market share of 0.23, 0.28, 0.25, and 0.24 for brands A, B, C, and D, respectively. Below are the transition probability matrix of the soap brands based on their annual performance and the number of customers using the brands. From/To A Number of Customers A B с D 0.2 0 0.3 0.3 B 0.3 0.2 0.5 0.4 с 0.1 0.5 0 0.3 D 0.4 c) What is the mean return time of Brand A? Answer in 2 decimal places. 0.3 0.2 0 a) What is the market share of Brand D in the long run? Answer in 2 decimal places. b) How many customers will shift preference in using Brand C soap in the long run? 2300 2800 2500 2400 d) What is the percentage change of Brand B? Answer in percentage and in 2 decimal places.

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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The four brands of soap have the current market share of 0.23, 0.28, 0.25, and 0.24 for brands A, B, C, and D, respectively. Below are the transition probability matrix of the soap brands based on their annual performance and the number of customers using the brands.
0.4
2300
T
0.3
2800
0.2
2500
2400
From/To
A
B
C
D
A
0.2
0
0.3
0.3
B
0.3
0.2
0.5
0.4
C
0.1
0.5
0
0.3
D
0
a) What is the market share of Brand D in the long run? Answer in 2 decimal places.
c) What is the mean return time of Brand A? Answer in 2 decimal places.
b) How many customers will shift preference in using Brand C soap in the long run?
Number of Customers
d) What is the percentage change of Brand B? Answer in percentage and in 2 decimal places.
Transcribed Image Text:The four brands of soap have the current market share of 0.23, 0.28, 0.25, and 0.24 for brands A, B, C, and D, respectively. Below are the transition probability matrix of the soap brands based on their annual performance and the number of customers using the brands. 0.4 2300 T 0.3 2800 0.2 2500 2400 From/To A B C D A 0.2 0 0.3 0.3 B 0.3 0.2 0.5 0.4 C 0.1 0.5 0 0.3 D 0 a) What is the market share of Brand D in the long run? Answer in 2 decimal places. c) What is the mean return time of Brand A? Answer in 2 decimal places. b) How many customers will shift preference in using Brand C soap in the long run? Number of Customers d) What is the percentage change of Brand B? Answer in percentage and in 2 decimal places.
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