Answered: The purchase patterns for two brands of…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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$The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the following transition probabilities. From Special B MDA Need Help? Special B 0.90 = π 1 1/5 π2 1/5 Read It To 0.02 MDA (a) Which brand appears to have the most loyal customers? Explain. MDA ✔✔✔has the most loyal customers because 98 0.10 % stay with them and only 2 (b) What are the projected market shares for the two brands? (Enter exact numbers as integers, fractions, or decimals.) Special B MDA 0.98 X x % switch to the other brand, as opposed to Special B✔✔✔ where only 90 ✓ % stay with them and 10 ✓ % switch.$

Transcribed Image Text:The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the following transition probabilities. From Special B MDA Need Help? Special B 0.90 = π 1 1/5 π2 1/5 Read It To 0.02 MDA (a) Which brand appears to have the most loyal customers? Explain. MDA ✔✔✔has the most loyal customers because 98 0.10 % stay with them and only 2 (b) What are the projected market shares for the two brands? (Enter exact numbers as integers, fractions, or decimals.) Special B MDA 0.98 X x % switch to the other brand, as opposed to Special B✔✔✔ where only 90 ✓ % stay with them and 10 ✓ % switch.

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