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Introduction to Management Science 12th Edition by Bernard Taylor
Edition 12ISBN: 978-0133778847Introduction to Management Science 12th Edition by Bernard Taylor
Edition 12ISBN: 978-0133778847 Exercise 7
A city is served by two newspapers-the Tribune and the Daily News. Each Sunday readers purchase one of the newspapers at a stand. The following matrix contains the probabilities of a customer's buying a particular newspaper in a week, given the newspaper purchased the previous Sunday:
Simulate a customer's purchase of newspapers for 20 weeks to determine the steady-state probabilities that a customer will buy each newspaper in the long run.
Simulate a customer's purchase of newspapers for 20 weeks to determine the steady-state probabilities that a customer will buy each newspaper in the long run.
Explanation
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Use the Excel spreadsheet belo...
Introduction to Management Science 12th Edition by Bernard Taylor
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