c. The market share of two companies A and B is 30% and 70% in the current time period. Theinformation obtained in terms of the customer loss and retention is given by the matrix P.[0.3 0.2]P =Lo.7 0.8]i.Determine the transition probability matrix in the 1st and 2nd month.ii.What is the steady state of the two companies?

Answered: Image /qna-images/answer/ade33f91-fba4-4211-b1bd-9e80cf739b9a.jpg

.The market share of two companies A and B is 30% and 70% in the current time period. The information obtained in terms of the customer loss and retention is given by the matrix P. P = [0.3 0.21 Lo.7 0.8] i.Determine the transition probability matrix in the 1st and 2nd month. ii.What is the steady state of the two companies?

.The market share of two companies A and B is 30% and 70% in the current time period. The information obtained in terms of the customer loss and retention is given by the matrix P. P = [0.3 0.21 Lo.7 0.8] i.Determine the transition probability matrix in the 1st and 2nd month. ii.What is the steady state of the two companies?

Calculus For The Life Sciences

2nd Edition

ISBN:9780321964038

Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Chapter1: Functions

Section1.EA: Extended Application Using Extrapolation To Predict Life Expectancy

Problem 3EA

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