This is a subjective question, hence you have to write your answer in the Text-Field given below. Based upon a study by a marketing research firm, the following facts were compiled for three bakeries in a local market. Bakery A retains 90% of its customers while gaining 5% of competitors' B's customers and 10% of C's customers. Bakery B retains 85% of its customers while gaining 5% of A's customers and 7% of C's customers. Bakery C retains 83% of its customers and gains 5% of A's customers and 10% of B's customers. Assuming that this process is modeled by a Markov process. 1. Construct the matrix of transition probabilities. 2. "Calculate the steady state probabilities. [2+5=7]