Find ((2) for Problem 15-24. Information from 15-24 for finding ((2) Store 1 currently has 40% of

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Find ((2) for Problem 15-24.

Information from 15-24 for finding ((2)

Store 1 currently has 40% of the market; store 2 currently has 60% of the market.

In each period, store 1 customers have an 80% chance of returning; 20% of switching to store 2.

In each period, store 2 customers have a 90% chance of returning; 10% of switching to store 1.

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Quantitative Analysis for Management

ISBN: 978-0132149112

11th Edition

Authors: Barry render, Ralph m. stair, Michael e. Hanna

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Question Posted: Feb 24, 2015 09:32 AM

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Find ((2) for Problem 15-24. Information from 15-24 for finding ((2) Store 1 currently has 40% of

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For calculating 2 first we need to calculate 1 which is the probabil...View the full answer

Quantitative Analysis for Management

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