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
MDA
a
Which brand appears to have the most loyal customers? Explain.
Correct: Your answer is correct.
has the most loyal customers because stay with them and only switch to the other brand, as opposed to
Correct: Your answer is correct.
where only stay with them and switch.
b
What are the projected market shares for the two brands? Enter exact numbers as integers, fractions, or decimals.
Special B
MDA
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