Chapter 11.2, Problem 3E

To determine

(a)

The probability of moving from state $1$ to state $2$.

To determine

(b)

The current market share of state $2$.

To determine

(c)

To find:

$PT$

To determine

(d)

To find:

$P{T}^2$

To determine

(e)

To draw:

A tree diagram illustrating $P$ and $T$.