User Account

All Pages

Steady-state probabilities of soft drink selection

Assignment Help Business Management
Reference no: EM131479595

1. The soft drink market in the United States is quite competitive; the major market shares are held by Coca-Cola Company and Pepsi-Cola Company. Suppose an individual who last purchased a Coca-Cola product has a 70% chance of next purchasing another Coca-Cola product, a 20% chance of next purchasing a Pepsi-Cola product, and a 10% chance of next purchasing some other soft drink companyâs product. An individual who last purchased a Pepsi-Cola product has a 25% chance of next purchasing a Coca-Cola product, a 60% of next purchasing another Pepsi-Cola product, and a 15% chance of purchasing some other soft drink companyâs product. An individual who last purchased a soft drink made by some other company has a 30% chance of next purchasing a Coca-Cola product, a 45% chance of next purchasing a Pepsi-Cola product, and a 25% chance of next purchasing some other soft drink companyâs product.

a. Construct a transition matrix for the process of soft drink selection.

b. Consider a randomly selected consumer who is currently purchasing a soft drink made by Coca-Cola. What is the probability that each of that customerâs next three soft drink purchases will be Coca-Cola products?

c. Consider a randomly selected consumer who is currently purchasing a soft drink made by Coca-Cola. What is the probability that each of that customerâs third soft drink purchases will be a Pepsi-Cola product?

d. Given that the long term steady-state probabilities of soft drink selection is as follows:

Coca-Cola              46.73%

Pepsi-Cola              39.20%

Other                     14.07%

Suppose a customer just purchased a Pepsi-Cola product. What is the average number of times that customer will purchase either a Coca-Cola product of some other companys soft drink products before purchasing a Pepsi-Cola product again?

Reference no: EM131479595

Questions Cloud

Recommend an additional service to add to the dms website : Recommend an additional service to add to the DMS Website. Critique the merits of the major services found on the DMS Website.
What primary and secondary information would you seek : You are owner of upscale nightclub called Amnesia Nights on Sunset Boulevard in Hollywood, California. What primary and secondary information would you seek?
Discuss the project risk management processes : At this point in the class you have been exposed to several ideas, concepts and strategy regarding risk management. Taking what you have learned so far.
What events led to ishi being the last survivor : What valuable information other than language did Ishi provide for researchers that they would not have otherwise been able to obtain?
Steady-state probabilities of soft drink selection : Suppose a customer just purchased a Pepsi-Cola product. What is the average number of times that customer will purchase either a Coca-Cola product.
What is the objective of the communication : In any project proposal that has been made to the client. Analyze it as a piece of communication. What is the objective of the communication?
Derive a class from longinteger called hexinteger : Derive a class from LongInteger called HexInteger, which is a hexadecimal (base 16) version of LongInteger with the same attributes and methods as the others.
Explain the strategies of functional business corporate : Explain what particular strategies are being used at functional business corporate or international levels to gain comparative advantage in the current.
Outline the most meaningful concepts for management : Outline the most meaningful concepts for Management and Organizational Behavior

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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