Explanation Given: Current market share of Sierra Cruiser is 41 % . Percent of bikers who buys Sierra Cruiser instead of mountain bike is 31 % . Percent of bikers who buys Sierra Cruiser and will buy the mountain bike next time is 12 % . Calculation: Construct a initial probability matrix where the first column denotes the percent of biker who owns Sierra Cruiser and second column denotes percent of bikers who owns a mountains bike. t. So, the initial probably matrix shall be, P = [ 0.41 0.59 ] Now construct the transition matrix. Percent of bikers who buys Sierra Cruiser instead of mountain bike is 31 % . So, percent of bikers who buys from mountain bike is, P M = 100 % − 31 % = 69 % Percent of bikers who buys Sierra Cruiser and will buy the mountain bike next time is 12 % . So, percent of bikers who buys from mountain bike is, P M = 100 % − 12 % = 88 % Construct the transition matrix. T = [ 0.12 0.88 0.31 0.69 ] Calculate the market share of each in 2 year . P T = [ 0.41 0.59 ] [ 0.12 0.88 0.31 0.69 ] = [ ( 0.41 ) ( 0

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Author: MOWRY

Publisher: CENGAGE LEARNING - CONSIGNMENT

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Chapter 11.2, Problem 7E

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The market share of Sierra Cruiser’s in four years.

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Chapter 11 Solutions

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To predict: The market share of Sierra Cruiser’s in four years.

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To predict:

The market share of Sierra Cruiser’s in four years.