Question: The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the following transition probabilities: To From Special BMDA Special

The purchase patterns for two brands of

The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the following transition probabilities: To From Special BMDA Special B 0.90 0.10 MDA 0.04 0.96 (a) Which brand appears to have the most loyal customers? Explain. MDA V has the most loyal customers because 96 % stay with them and only 4 % switch to the other brand, as opposed to Special BV where only 90 % stay with them and 10 % switch (b) What are the projected market shares for the two brands? Special B X "1 = 0.2857 12 0.7143 MDA x

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