The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the following transition pr
Posted: Wed May 11, 2022 10:23 am
- The Purchase Patterns For Two Brands Of Toothpaste Can Be Expressed As A Markov Process With The Following Transition Pr 1 (22.04 KiB) Viewed 22 times
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 0.92 0.08 MDA 0.04 0.96 (a) Which brand appears to have the most loyal customers? Explain. ---Select-- has the most loyal customers because % stay with them and only % switch to the other brand, as opposed --Select-- where only % stay with them and % switch. (b) What are the projected market shares for the two brands? Special B MDA