questions 14.24 to 14.26 please help.

Content C X === IP X + myclassroom.cput.ac.za/ultra/courses/_134636_1/cl/outline Content Discussions Groups Tools Help Calendar My Grades Class Timetables Library Ask Us LibGuides Research Support Guides Information Literacy Multilingual Glossaries My Groups GROUP_A 15C Mostly cloudy Quantitative Analysis for Management 540 541 542 540 / 610 85% + the course? 14-22 Hicourt Industries is a commercial printing out- fit in a medium-sized town in central Florida. Its only competitors are the Printing House and Gandy Printers. Last month, Hicourt Industries had ap- proximately 30% of the market for the printing busi- ness in the area. The Printing House had 50% of the market, and Gandy Printers had 20% of the market. The association of printers, a locally run associa- tion, had recently determined how well these three printers and smaller printing operations not involved in the commercial market were able to retain their customer base. Hicourt was the most successful in keeping its customers. Eighty percent of its custom- ers for any one month remained customers for the next month. The Printing House, on the other hand, had only a 70% retention rate. Gandy Printers was in the worst condition. Only 60% of the custom- ers for any one month remained with the firm. In 1 month, the market share had significantly changed. This was very exciting to George Hicourt, president of Hicourt Industries. This month, Hicourt Industries was able to obtain a 38% market share. The Print- ing House, on the other hand, lost market share. This month, it only had 42% of the market share. Gandy Printers remained the same; it kept its 20% of the market. Just looking at market share, George con- cluded that he was able to take 8% per month away from the Printing House. George estimated that in a few short months, he could basically run the Print- ing House out of business. His hope was to capture 80% of the total market, representing his original 30% along with the 50% share that the Printing House started off with. Will George be able to reach his goal? What do you think the long-term market shares will be for these three commercial printing operations? Will Hicourt Industries be able to run the Printing House completely out of business? 14-23 John Jones of Bayside Laundry has been providing cleaning and linen service for rental condominiums on the Gulf Coast for over 10 years. Currently, John is servicine 26 condominium developments John's a e Cleanco has kept 80% of its current customers. He also knows that Beach Services will keep at least 50% of its customers. For John to get the loan from Bay Bank, he needs to show the loan officer that he will maintain an adequate share of the market. The officers of Bay Bank are concerned about the recent trends for market share, and they have decided not to give John a loan unless he will keep at least 35% of the market share in the long run. What types of equi- librium market shares can John expect? If you were an officer of Bay Bank, would you give John a loan? Set up both the vector of state probabilities and the matrix of transition probabilities given the following information: Store 1 currently has 40% of the market; store 2 currently has 60% of the market. In each period, store 1 customers have an 80% chance of returning and a 20% chance of switch- ing to store 2. In each period, store 2 customers have a 90% chance of returning and a 10% chance of switch- ing to store 1. Q.14-25 Find (2) for Problem 14-24. 2:14-26 Find the equilibrium conditions for Problem 14-24. Explain what it means. 2:14-27 As a result of a recent survey of students at the Uni- versity of South Wisconsin, it was determined that the university-owned bookstore currently has 40% of the market. (See Problem 14-14.) The other three bookstores-Bill's, College, and Battle's-split the remaining initial market share equally. Given these initial market shares and the same state probabilities, what are the market shares for the next period? What impact do the initial market shares have on each store for the next period? What is the impact on the steady-state market shares? Sandy Sprunger is part owner in one of the largest quick-oil-change operations for a medium-sized city in the Midwest. Currently, the firm has 60% of the market. There are a total of 10 quick-lubri- cation shops in the area. After performing some ENG US 214-24 214-28 X : 19:43 ) 2022/05/24 Content C X === IP X + myclassroom.cput.ac.za/ultra/courses/_134636_1/cl/outline Content Discussions Groups Tools Help Calendar My Grades Class Timetables Library Ask Us LibGuides Research Support Guides Information Literacy Multilingual Glossaries My Groups GROUP_A 15C Mostly cloudy Quantitative Analysis for Management 540 541 542 540 / 610 85% + the course? 14-22 Hicourt Industries is a commercial printing out- fit in a medium-sized town in central Florida. Its only competitors are the Printing House and Gandy Printers. Last month, Hicourt Industries had ap- proximately 30% of the market for the printing busi- ness in the area. The Printing House had 50% of the market, and Gandy Printers had 20% of the market. The association of printers, a locally run associa- tion, had recently determined how well these three printers and smaller printing operations not involved in the commercial market were able to retain their customer base. Hicourt was the most successful in keeping its customers. Eighty percent of its custom- ers for any one month remained customers for the next month. The Printing House, on the other hand, had only a 70% retention rate. Gandy Printers was in the worst condition. Only 60% of the custom- ers for any one month remained with the firm. In 1 month, the market share had significantly changed. This was very exciting to George Hicourt, president of Hicourt Industries. This month, Hicourt Industries was able to obtain a 38% market share. The Print- ing House, on the other hand, lost market share. This month, it only had 42% of the market share. Gandy Printers remained the same; it kept its 20% of the market. Just looking at market share, George con- cluded that he was able to take 8% per month away from the Printing House. George estimated that in a few short months, he could basically run the Print- ing House out of business. His hope was to capture 80% of the total market, representing his original 30% along with the 50% share that the Printing House started off with. Will George be able to reach his goal? What do you think the long-term market shares will be for these three commercial printing operations? Will Hicourt Industries be able to run the Printing House completely out of business? 14-23 John Jones of Bayside Laundry has been providing cleaning and linen service for rental condominiums on the Gulf Coast for over 10 years. Currently, John is servicine 26 condominium developments John's a e Cleanco has kept 80% of its current customers. He also knows that Beach Services will keep at least 50% of its customers. For John to get the loan from Bay Bank, he needs to show the loan officer that he will maintain an adequate share of the market. The officers of Bay Bank are concerned about the recent trends for market share, and they have decided not to give John a loan unless he will keep at least 35% of the market share in the long run. What types of equi- librium market shares can John expect? If you were an officer of Bay Bank, would you give John a loan? Set up both the vector of state probabilities and the matrix of transition probabilities given the following information: Store 1 currently has 40% of the market; store 2 currently has 60% of the market. In each period, store 1 customers have an 80% chance of returning and a 20% chance of switch- ing to store 2. In each period, store 2 customers have a 90% chance of returning and a 10% chance of switch- ing to store 1. Q.14-25 Find (2) for Problem 14-24. 2:14-26 Find the equilibrium conditions for Problem 14-24. Explain what it means. 2:14-27 As a result of a recent survey of students at the Uni- versity of South Wisconsin, it was determined that the university-owned bookstore currently has 40% of the market. (See Problem 14-14.) The other three bookstores-Bill's, College, and Battle's-split the remaining initial market share equally. Given these initial market shares and the same state probabilities, what are the market shares for the next period? What impact do the initial market shares have on each store for the next period? What is the impact on the steady-state market shares? Sandy Sprunger is part owner in one of the largest quick-oil-change operations for a medium-sized city in the Midwest. Currently, the firm has 60% of the market. There are a total of 10 quick-lubri- cation shops in the area. After performing some ENG US 214-24 214-28 X : 19:43 ) 2022/05/24