Problem require the use of a graphing calculator.
Refer to Problem 51. The chemists at Acme Soap Company have developed a second new soap, called brand Y. Test-marketing this soap against the three established brands produces the following transition matrix:

Proceed as in Problem 51 to approximate the elements in the stationary matrix correct to two decimal places. If Acme decides to market brand Y, what is the long-run expected total market share for Standard Acme and brand Y? Should Acme market brand X or brand Y?

Transcribed Image Text:

SB DB SA Y SBİ.3 .2 .2 .3 DBİ.2 .2.2.4 SAİ.2 .2 .4 .2 Y 234