Transition matrix for the probabilitiy, Mathematics

Assignment Help:

Suppose research on three major cell phones companies revealed the following transition matrix for the probability that a person with one cell phone carrier switches to another.

                                          Will Switch to
                              Company A           Company B                 Company C
Company A               .91                               .07                             .02
Now has Comp. B      .03                               .87                              .10
Company C             .14                               .04                               .82

The current share of the market is [.26, .36, .38] for Companies A, B, and C respectively. Find the share of the market held by each company after
a) 1 year
b) 2 years
c) 3 years
d) What is the long-range prediction?


Related Discussions:- Transition matrix for the probabilitiy

Fractions and equations and illustration, if Mr.Ibias oredered a rectangula...

if Mr.Ibias oredered a rectangular pizza and he wants 2/3 of the pizza to be pepperoni and 1/2 of the pizza with pineapple draw and label the pizza with toppings explain your think

Important points about the alternating series test, Important Points About ...

Important Points About the Alternating Series Test There are a several things to note about this test.  Very first, unlike the Integral Test and the Comparison or Limit Compari

How to convert decimals to fractions, Q. How to Convert decimals to fractio...

Q. How to Convert decimals to fractions? Ans. Note: This tutorial covers only terminating decimals.

Find out the different strategies of multiplications, 1. Give some Class 4 ...

1. Give some Class 4 children around you problems like 15 x 6 to do dentally. Interact with them to find out the different strategies they use for doing it, and note these down.

Right angled triangle, In proving relation of trigonometric ratios we becam...

In proving relation of trigonometric ratios we became confused that what should we do next, so to complete any question quickly what should we do?

What is the average temperature on the celsius scale, Peggy's town has an a...

Peggy's town has an average temperature of 23° Fahrenheit in the winter. What is the average temperature on the Celsius scale? If the total amount for both is 80, after that th

Matrix, how to find eigen value for the given matrix 122 021 -122

how to find eigen value for the given matrix 122 021 -122

Logarithms, find any integer from 1-128 on a logarithmic scale

find any integer from 1-128 on a logarithmic scale

Division of complex number, Division of complex number Now, we gave thi...

Division of complex number Now, we gave this formula a long with the comment that it will be convenient while it came to dividing complex numbers so let's look at a couple of e

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd