Suppose the entire cola industry produces only two colas viz., Pepsi and Coke.  Given that a person last purchased Pepsi, there is 90% that his next purchase will be Pepsi.  Given that a person last purchased Coke, there is an 80% that the next purchase will be Coke.

i.  If a person is currently a Coke purchaser, what is the probability that two purchases from now he will purchase Pepsi ?

ii. If a person is currently a Pepsi purchaser, what is the probability that from three purchases from now he will purchase Pepsi ?

 

 

Posted Date: 2/27/2013 12:50:34 AM | Location : United States

Ask an Expert

Related Discussions:- What is the probability, Assignment Help, Ask Question on What is the probability, Get Answer, Expert's Help, What is the probability Discussions

Write discussion on What is the probability
Your posts are moderated

Write your message here..

Related Questions

Probability, If there are 12 numbered balls in a basket (0-11), and you get... If there are 12 numbered balls in a basket (0-11), and you get 6 chances to pick a ball what are the odds to get two of the same number, 3 of the same number, 4, 5 and 6. I would

General linear regression model, find the variance of least square estimato... find the variance of least square estimator beta hat for general linear regression model when k=2 in matrix form?

Define Manufacturing Overhead Costs, In the financial statements, each prod... In the financial statements, each product must include the costs of the given below: Direct labor Direct material Manufacturing or factory overhead The costs that would typically b

What is Art collection , What is Art collection A personal perform of art... What is Art collection A personal perform of art or number of products of unique graphics such as artwork, statues, craftwork or other elements generally determined as a perform

Moving average, #questionhow does one calculate a four period centered movi... #questionhow does one calculate a four period centered moving average given the sales per quarter for 3 years ..

Business valuation to determine the stock price of an entity, Definition of... Definition of business valuation to determine the stock price of an entity. Business valuation is the value or price where a unit would be purchased at a given point in time. Usual

Find out revised probabilities for symptoms, This problem set consists of t... This problem set consists of three problems and a short essay.  Each problem is worth 7 points, the essay is worth 4 points for a total of 25 points. 1.  What are the chances th

Benefits of financial sales, Expertsmind.com offering Uses of Financial Ac... Expertsmind.com offering Uses of Financial Accounting Financial Accounting Sales performs important and useful part by creating the details for offering solutions to many conc

Probability, There are 49 mice in a pet shop. 30 mice are white. 27 mice ... There are 49 mice in a pet shop. 30 mice are white. 27 mice are male. 18 mice have short tails. 8 mice are white and have short tails. 11 mice are male and have short tails.

Accrual basis in accounting , The foundation sales whereby income are ackno... The foundation sales whereby income are acknowledged when gained and considerable regardless of when collected; and costs are noted on a corresponding basis when suffered. All amaz