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

How many ways are there to seat these children, Question: (a) Suppose ...

Question: (a) Suppose that a cookie shop has four different kinds of cookies. Assuming that only the type of cookie, and not the individual cookies or the order in which they

Find the value of ((a+b)/(a-b)) , If arg (a/b) = pi/2, then find the value ...

If arg (a/b) = pi/2, then find the value of ((a+b)/(a-b)) where a,b are complex numbers. Ans) Arg (a/b) =Pi/2 Tan-1   (a/b)=   Pi/2 A/B = tanP/2 ,therefore a/b=infinity.

matlab, how to solve simplex method using matlab

how to solve simplex method using matlab?

Calculate the total surface area which is exposed , A golf ball has a diame...

A golf ball has a diameter equal to 4.1cm. Its surface has 150 dimples each of radius 2mm. Calculate the total surface area which is exposed to the surroundings assuming that the d

Matrices, Give me the assignment on the matrices...

Give me the assignment on the matrices...

Determine the marginal probability distributions, (1)   The following table...

(1)   The following table gives the joint probability distribution p (X, Y) of random variables X and Y. Determine the following: (a) Do the entries of the table satisfy

Types of sets, NULL/ VOID/ EMPTY SET A set which has no element is know...

NULL/ VOID/ EMPTY SET A set which has no element is known as the null set or empty set and is indicated by f (phi). The number of elements of a set A is indicated as n (A) and

Interpretation of r – problems in interpreting r values, Interpretation of ...

Interpretation of r - Problems in interpreting r values A high value of r as +0.9 or - 0.9 only shows a strong association among the two variables but doesn't imply that th

Analyze the dynamic path of pork prices, A well-known simple model, applica...

A well-known simple model, applicable for analysing boom-bust cycles in agriculture, but extendable to analysing boom-bust cycles in many different areas of economics is the hog cy

Evaluate the limit, Evaluate the given limit. Solution : It is a ...

Evaluate the given limit. Solution : It is a combination of many of the functions listed above and none of the limited are violated so all we have to do is plug in x = 3

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