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An Introduction to Management Science 13th Edition by David Anderson,Dennis Sweeney ,Thomas Williams ,Jeffrey Camm, Kipp Martin
Edition 13ISBN: 978-1439043271An Introduction to Management Science 13th Edition by David Anderson,Dennis Sweeney ,Thomas Williams ,Jeffrey Camm, Kipp Martin
Edition 13ISBN: 978-1439043271 Exercise 8
The purchase patterns for two brands of toothpaste can be expresse as a Markov process with the following transition probabilities: 
a. Which brand appears to have the most loyal customers? Explain.
b. What are the projected market shares for the two brands?
a. Which brand appears to have the most loyal customers? Explain.
b. What are the projected market shares for the two brands?
Explanation
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Markov Process:
Markov process models a...
An Introduction to Management Science 13th Edition by David Anderson,Dennis Sweeney ,Thomas Williams ,Jeffrey Camm, Kipp Martin
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