Essay
Three airlines compete on the route between New York and Los Angeles. Stanton Marketing has performed an analysis of first class business travelers to determine their airline choice. Stanton has modeled this choice as a Markov process and has determined the following transition probabilities. 
a. Show the random number assignments that can be used to simulate the first class business traveler's next airline when her last airline is A, B, and C.
b. Assume the traveler used airline C last. Simulate which airline the traveler will be using over her next 25 flights. What percent of her flights are on each of the three airlines? Use the following random numbers, going from left to right, top to bottom.
Correct Answer:
Verified
Correct Answer:
Verified
Q5: The process of generating probabilistic inputs and
Q7: Arrivals to a truck repair facility have
Q10: On a visit to an amusement park
Q14: Why would one want to use a
Q15: A simulation model used in situations where
Q16: Seventy-five percent of calls arriving at a
Q17: How can historical information be used to
Q29: Simulation is an optimization technique.
Q35: Validation determines that the computer procedure is
Q43: The word "uniform" in the term "uniform