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

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

To
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 ________% stay with them and only ________% switch to the other brand, as opposed to Special B where only _______% stay with them and % switch.

(b) What are the projected market shares for the two brands?

Special B 1=

MDA 2=

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