The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the following transition probabilities: With 3000 customers, what are the projected market shares for the two brands?

The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the following transition probabilities: With 3000 customers, what are the projected market shares for the two brands?

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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Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day.A sample of 64 stocks traded on the NYSE that day showed that 24 went up.You are conducting a study to see if the proportion of stocks that went up is significantly more than 0.3. You use a significance level of α=0.01α=0.01.What is the test statistic for this sample? (Report answer accurate to three decimal places.)test statistic = What is the p-value for this sample? (Report answer accurate to four decimal places.)p-value = The p-value is... less than (or equal to) αα greater than αα This test statistic leads to a decision to... reject the null accept the null fail to…
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not A 1995 study by the School of Public Health reported that 87% of male students who live in a fraterity house are binge drinkers. The figure for fraternity members who are residents of a fraternity house is 71 %, while the figure for men who do not belong to a fraternity is 44 % Suppose that 11% of U.S. male students live in a fraternity house, 15% belong to a fraterity but do not live in a fraterity house, and 74% do not belong to a fraterity a. What is the probability that a randomly selected malp student is a binge drinker? b. If a randomly selected male student is a binge drinker, what is the probability that he lives in a fraterity house? The probability that a randomly selected male student is a binge drinker is 0.5509 (Type an integer or a decimal rounded to two decimal places as needed) CETTE
It is known that in any given year, • 90% of the people in a city move to the suburbs; • 80% of the people in the suburbs do not move to the city. Given an initial city population of 55,000 and an initial suburb population of 77,000, what are the long-term population levels of the city and the suburb?
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Westminster Financial has released a summary of investor and investment package information from the past fiscal year. During this time, Westminster provided a choice among 12 pre-designed investment packages. The investment packages were classified according to two variables: riskiness of investment package chosen ("Risky", "Moderate/mixed", and "Conservative") and age of investor ("Under 35", "35-49", or "50+"). Suppose that we're interested in the possible relationship between the age of the investor and the riskiness of the investment package the investor chose. The following contingency table gives a summary of the information released by Westminster regarding age and riskiness of investment package for 150 investors. In the cells of the table are the respective observed frequencies, and three of the cells also have blanks. Fill in these blanks with the frequencies expected if the two variables, riskiness of investment package chosen and age of investor, are independent. Round…
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