(a) Explanation Given: The transition matrix: [ Dogkins Long Dog Dogkins 0.8 0.2 Long Dog 0.45 0.55 ] Explanation: As it is provided that the initial market share of Dogkins is 35% and of Long Dog is 65%, the initial probability vector for the provided companies is: X 0 = [ 0.35 0.65 ] The first entry is for Dogkins and the second is for Long Dog. So, the transition matrix is: A = [ 0.8 0.2 0.45 0 (b) To determine The share of the market for the provided companies after three campaigns.

Finite Mathematics, Books a la Carte Plus MyLab Math Access Card Package (11th Edition)

11th Edition

ISBN: 9780133886818

Author: Margaret L. Lial, Raymond N. Greenwell, Nathan P. Ritchey

Publisher: PEARSON

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Chapter 10, Problem 43RE

(a)

To determine

The share of the market for the provided companies after one campaign.

(b)

To determine

The share of the market for the provided companies after three campaigns.

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Chapter 10, Problem 42RE

Chapter 10, Problem 44RE

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Chapter 10 Solutions

Finite Mathematics, Books a la Carte Plus MyLab Math Access Card Package (11th Edition)

Ch. 10.1 - Decide whether each matrix could be a...Ch. 10.1 - Decide whether each matrix could be a probability...Ch. 10.1 - Prob. 3E Ch. 10.1 - Prob. 4E Ch. 10.1 - Decide whether each matrix could be a probability...Ch. 10.1 - Decide whether each matrix could be a...Ch. 10.1 - Prob. 7E Ch. 10.1 - Prob. 8E Ch. 10.1 - Decide whether each matrix could be a transition...Ch. 10.1 - Decide whether each matrix could be a...

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The share of the market for the provided companies after one campaign.

Solution Summary: The author explains that the market share after 3 campaigns for Dogkins and Long Dog is 67.76% and 42.75%.

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The share of the market for the provided companies after one campaign.

The share of the market for the provided companies after three campaigns.

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Chapter 10 Solutions