A company reviews the state of one of its important products annually and decides whether it is
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A company reviews the state of one of its important products annually and decides whether it is successful (state 1) or unsuccessful (state 2). The company must decide whether to advertise the product to further promote sales. The following matrices, P1 and P2, provide the transition probabilities with and without advertising during any year. The associated returns are given by the matrices R1 and R2. Find the optimal decisions over the next 3 years.
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