Three electronics firms are aggressively marketing their graphing calculators to high school and college mathematics departments by
Question:
Three electronics firms are aggressively marketing their graphing calculators to high school and college mathematics departments by offering volume discounts, complimentary display equipment, and assistance with curriculum development. Due to the amount of equipment involved and the necessary curriculum changes, once a department decides to use a particular calculator in their courses, they never switch to another brand or stop using calculators. Each year, 6% of the departments decide to use calculators from company A, 3% decide to use calculators from company B, 11% decide to use calculators from company C, and the remainder decide not to use any calculators in their courses.
(A) In the long run, what is the market share of each company?
(B) On average, how many years will it take a department to decide to use calculators from one of these companies in their courses?
Step by Step Answer:
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker