Question: i need detailed solution not shortcut please thank you! Two products have their loyal following: Product X is currently the market leader at 75%, while

i need detailed solution not shortcut please

i need detailed solution not shortcut please thank you!

Two products have their loyal following: Product X is currently the market leader at 75%, while rival brand Y has the remaining 25% of the market. The following transition matrix is applicable per year: From\To X Y 0.8 0.2 Y 0.3 0.7 3. What is the projected market share of Y after 2 years? a. 36.25% b. 32.5% c. 26.25% d. 22.5%

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