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

Envision math common core, how do i write a conjecture about the sum of two...

how do i write a conjecture about the sum of two negative integers.

Derivative problem, we know that derivative of x 2 =2x. now we can write x...

we know that derivative of x 2 =2x. now we can write x 2 as x+x+x....(x times) then if we take defferentiation we get 1+1+1+.....(x times) now adding we get x . then which is wro

1234 Mathematics, use only the digits 1,2,3 and 4 in any order to write an ...

use only the digits 1,2,3 and 4 in any order to write an expression for the numbers 1 to 100. you may only use each digit once. You may use exponents of 1,2,3 and 4 in some of th

What is the sale price of the printer, A printer which sells for $190 is on...

A printer which sells for $190 is on sale for 20% off. What is the sale price of the printer? The printer is 20% off. That means that it is 80% of its original price (100% - 2

Proof integral function, Proof of: if f(x) > g(x) for a x b th...

Proof of: if f(x) > g(x) for a x b then a ∫ b  f(x) dx > g(x). Because we get f(x) ≥ g(x) then we knows that f(x) - g(x) ≥ 0 on a ≤ x ≤ b and therefore by Prop

Calculus 1, Suppose a Ferris wheel with radius of 12 meters is rotating at ...

Suppose a Ferris wheel with radius of 12 meters is rotating at a rate of 2 rotations per minute. a. How fast is a person rising when the person is 3 meters above the horizontal lin

Formulas, A house painter uses the formula, c = $110.50 + $39.50h, where c ...

A house painter uses the formula, c = $110.50 + $39.50h, where c is the total cost and h is the number of hours he works, to determine how much he charges his customers. How much s

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