Please solve in Microsoft Excel.

The top three electricity providers in the Dallas/Fort Worth Metroplex (D/FW) are TXU, Spark, and Reliant. During a given month, 15% of all TXU customers switch to Spark, and 5% switch to a Reliant; also, 6% of all Spark customers switch to TXU, and 4% switch to Reliant; finally, 5% of all Reliant customers switch to TXU, and 5% to Spark.

Assuming that the probability that any given customer switches providers in any given month depends only on their current provider, model customer loyalty in the D/FW electricity market as a Markov chain and answer the following questions.

a) Determine the one-step transition matrix, P, for the Markov chain.

b) If an electricity customer in D/FW currently uses TXU,what is the probability that two months from now it will use TXU? Spark? Reliant?

c) Suppose that at present, 40% of all electricity customers in D/FW use TXU, 35% use Spark, and 25% use Reliant. Find percentage of customers that will use TXU i. Three months from now ii. Six months from now iii. One year from now

d) According to the Markov chain model, what percentage of electricity customers in D/FW will use TXU 5 years from now?