Question: The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the following transition probabilities: From Special B MDA 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: From Special B MDA Special B 0.90 0.10 MDA 0.04 0.96 (a) which brand appears to have the most loyal customers? Explain. % MDA has the most loyal customers because 96 switch to the other brand, as opposed to Special BV where only 90 10 % switch. % stay with them and only 4 % stay with them and (b) What are the projected market shares for the two brands? Special B TT 1 = 1/3 X MDA T2 = 2/3

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