(A) Refer to the transition diagram in Figure 1. What is the probability that a person using...
Question:
(A) Refer to the transition diagram in Figure 1. What is the probability that a person using brand A will switch to another brand when he or she runs out of toothpaste?
(B) Refer to transition probability matrix P. What is the probability that a person who is not using brand A will not switch to brand A when he or she runs out of toothpaste?
(C) In Figure 1, the sum of the probabilities on the arrows leaving each state is 1. Will this be true for any transition diagram? Explain your answer.
(D) In transition probability matrix P, the sum of the probabilities in each row is 1. Will this be true for any transition probability matrix? Explain your answer.
Step by Step Answer:
Finite Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780134862620
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker