Question: Help.. Can you show the solution for future reference? thank you A company is considering using Markov theory to analyze brand switching between three different

Help.. Can you show the solution for future reference? thank you

A company is considering using Markov theory to analyze brand switching between three different brands of floppy disks. Survey data has been gathered and has been used to estimate the following transition matrix for the probability of moving between brands each month: The current (month 1) market shares are 50%,20% and 30% for brands 1,2 and 3 respectively. What will be the expected market shares after a month have elapsed?(in percent form, 2 decimal places) Brand 1: Brand 2: Brand 3

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