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A Local Business a Has Two Competitors, B and C

Question 18

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A local business A has two competitors, B and C. No customer patronizes more than one of these businesses at the same time. Initially, the probabilities that a customer patronizes A, B, or C are 0.2, 0.6, and 0.2, respectively. Suppose A initiates an advertising campaign to improve its business and finds the following transition matrix to describe the effect. ​ A local business A has two competitors, B and C. No customer patronizes more than one of these businesses at the same time. Initially, the probabilities that a customer patronizes A, B, or C are 0.2, 0.6, and 0.2, respectively. Suppose A initiates an advertising campaign to improve its business and finds the following transition matrix to describe the effect. ​ ​ Find the steady-state vector for this market-that is, the long-range share of the market that each business can expect if the transition matrix holds. ​ A) B) ​ C) D) E) ​
Find the steady-state vector for this market-that is, the long-range share of the market that each business can expect if the transition matrix holds.
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A) A local business A has two competitors, B and C. No customer patronizes more than one of these businesses at the same time. Initially, the probabilities that a customer patronizes A, B, or C are 0.2, 0.6, and 0.2, respectively. Suppose A initiates an advertising campaign to improve its business and finds the following transition matrix to describe the effect. ​ ​ Find the steady-state vector for this market-that is, the long-range share of the market that each business can expect if the transition matrix holds. ​ A) B) ​ C) D) E)
B) ​ A local business A has two competitors, B and C. No customer patronizes more than one of these businesses at the same time. Initially, the probabilities that a customer patronizes A, B, or C are 0.2, 0.6, and 0.2, respectively. Suppose A initiates an advertising campaign to improve its business and finds the following transition matrix to describe the effect. ​ ​ Find the steady-state vector for this market-that is, the long-range share of the market that each business can expect if the transition matrix holds. ​ A) B) ​ C) D) E)
C) A local business A has two competitors, B and C. No customer patronizes more than one of these businesses at the same time. Initially, the probabilities that a customer patronizes A, B, or C are 0.2, 0.6, and 0.2, respectively. Suppose A initiates an advertising campaign to improve its business and finds the following transition matrix to describe the effect. ​ ​ Find the steady-state vector for this market-that is, the long-range share of the market that each business can expect if the transition matrix holds. ​ A) B) ​ C) D) E)
D) A local business A has two competitors, B and C. No customer patronizes more than one of these businesses at the same time. Initially, the probabilities that a customer patronizes A, B, or C are 0.2, 0.6, and 0.2, respectively. Suppose A initiates an advertising campaign to improve its business and finds the following transition matrix to describe the effect. ​ ​ Find the steady-state vector for this market-that is, the long-range share of the market that each business can expect if the transition matrix holds. ​ A) B) ​ C) D) E)
E) A local business A has two competitors, B and C. No customer patronizes more than one of these businesses at the same time. Initially, the probabilities that a customer patronizes A, B, or C are 0.2, 0.6, and 0.2, respectively. Suppose A initiates an advertising campaign to improve its business and finds the following transition matrix to describe the effect. ​ ​ Find the steady-state vector for this market-that is, the long-range share of the market that each business can expect if the transition matrix holds. ​ A) B) ​ C) D) E)

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