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A Markov matrix is a transition matrix that models a sequence of events whose changes are dependent only on their most recent state. The entries
A Markov matrix is a transition matrix that models a sequence of events whose changes are dependent only on their
most recent state. The entries of a Markov matrix are all probabilities between and inclusive, and in particular the
th entry is the probability that an event in the th state changes to the th state in the next step.
Writing the recorded values for each state at time in a vector the Markov matrix governs the relation
A certain store sells three different kinds of cereal created by three different companies: brands and Anyone
who visits the store does so regularly, and purchases one box of cereal each week.
It is observed that someone who buys brand s product is likely to buy it again on their next visit, likely to
buy brand on their next visit, and likely to buy brand on their next visit.
Someone who buys brand s product is likely to buy it again on their next visit, likely to buy brand on
their next visit, and likely to buy brand on their next visit.
Someone who buys brand s product is likely to buy it again on their next visit, likely to buy brand on
their next visit, and likely to buy brand on their next visit.
Assigning brands and to rowcolumn numbers and respectively, what is the Markov matrix that
represents the above information?
Note: The Matlab syntax for the matrix is
;;
With this in mind, we can answer the following questions:
In one particular week, a survey reveals that out of all the customers who purchased cereal, bought brand
bought brand and bought brand In the following week, what percentage of customers
purchasing cereal will buy brand
answer correct to decimal places
What is the expected change in percentage of customers who prefer brand five weeks after the above
survey? Give your answer as a negative number if the share decreases
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