Essay
The matrix of transition probabilities below deals with brand loyalty to Bark Bits and Canine Chow dog food. 
a.What are the steady state probabilities?
b.What is the probability that a customer will switch brands on the next purchase after a large number of periods?
Correct Answer:
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a.(π1 π2) = (π1 π2) 
π1 =...View Answer
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Correct Answer:
Verified
π1 =...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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