In problem 7, assume that 20,000 newspapers are sold each Sunday regardless of the publisher. A....

  

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In problem 7, assume that 20,000 newspapers are sold each Sunday regardless of the publisher. A. How many copies of the Tribune and the Daily News will be purchased in a given week in the long run? B. The Daily News is considering a promotional campaign estimated to change the weekly reader probabilities as follows. This Week Next Sunday Tribune Daily News 5] .7 Tribune .5 Daily News The promotional campaign will cost $150 per week. Each newspaper sold earns the Daily News $0.05 in profit. Should the paper adopt the promotional campaign? Problem 7 A city is served by two newspapers-the Tribuneand the Daily News. Each Sunday reader purchases one of the newspapers at a stand. The following transition matrix contains the probabilities of a customer's buying a particular newspaper in a week, given the newspaper purchased the previous Sunday. This Sunday Next Sunday Tribune Daily News Tribune 65 35 Daily News 45 Determine the steady-state probabilities for this transition matrix algebraically and explain what they mean. In problem 7, assume that 20,000 newspapers are sold each Sunday regardless of the publisher. A. How many copies of the Tribune and the Daily News will be purchased in a given week in the long run? B. The Daily News is considering a promotional campaign estimated to change the weekly reader probabilities as follows. This Week Next Sunday Tribune Daily News 5] .7 Tribune .5 Daily News The promotional campaign will cost $150 per week. Each newspaper sold earns the Daily News $0.05 in profit. Should the paper adopt the promotional campaign? Problem 7 A city is served by two newspapers-the Tribuneand the Daily News. Each Sunday reader purchases one of the newspapers at a stand. The following transition matrix contains the probabilities of a customer's buying a particular newspaper in a week, given the newspaper purchased the previous Sunday. This Sunday Next Sunday Tribune Daily News Tribune 65 35 Daily News 45 Determine the steady-state probabilities for this transition matrix algebraically and explain what they mean.