A B Suppose that Phone A has a 60% market share initially, with Phone B having a 40% market share. The transition matrix

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A B Suppose That Phone A Has A 60 Market Share Initially With Phone B Having A 40 Market Share The Transition Matrix 1 (47.79 KiB) Viewed 26 times

A B Suppose that Phone A has a 60% market share initially, with Phone B having a 40% market share. The transition matrix to the right represents customers who currently own phones A and B and the probability that they will upgrade to a new phone A or B. Use this transition matrix to find the share for each phone after the following upgrades. 0.6 0.4 А. B [o 0.45 0.55 (a) First upgrade (b) Second upgrade (c) Third upgrade (a) With the first upgrade, Phone A has % of the market and Phone B has % of the market. (Round your answers to two decimal places as needed.) (b) With the second upgrade, Phone A has % of the market and Phone B has % of the market. (Round your answers to two decimal places as needed.) (c) With the third upgrade, Phone A has % of the market and Phone B has % of the market. (Round your answers to two decimal places as needed.)