The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the following transition probabilities: a. Which brand appears to have the most loyal customers? Explain. b. What are the projected market shares for the twobrands? lo Special B 0.90 0.05 MDA 0.10 0.95 lro Special B MDA
Chapter 17, Problems #8
The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the following transition probabilities:
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a. Which brand appears to have the most loyal customers? Explain.
b. What are the projected market shares for the twobrands?
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Quantitative Methods for Business
11th Edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey cam
ISBN: 978-0324651751