A city is served by two newspapersthe Tribune and the Daily News. Each Sunday readers purchase one
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A city is served by two newspapers—the Tribune and the Daily News. Each Sunday readers purchase one of the newspapers at a stand. The following matrix contains the probabilities of a customer’s buying a particular newspaper in a week, given the newspaper purchased the previous Sunday:
This Sunday Next Sunday Tribune Daily News Tribune Daily News c
.65 .35
.45 .55 d
Simulate a customer’s purchase of newspapers for 20 weeks to determine the steady-state probabilities that a customer will buy each newspaper in the long run.
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