TOPIC: MARKOV CHAINS In a sample of 400 Internet subscribers taken in late 2000, 80% were connected by telephone, and the rest via cable modem. the rest via cable modem. At the end of 2001, the number of subscribers who switched from telephone to cable modem connection was 110; and the number of subscribers who switched from telephone to cable modem connection was 110. modem connection was 110; and the number of subscribers switching from cable modem to telephone connection was 24. C) What proportion of subscribers will each system have in the long term?

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Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.