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Arlington, three grocery stores are competing each other. Here is the market data for the three grocery stores On an average every day, Store A,
Arlington, three grocery stores are competing each other. Here is the market data for the three grocery stores On an average every day, Store A, Store B and Store C get 300, 200 and 150 customers respectively. Next day (The following information is for transitional probability matrix) 80% of the Store A customers come back to Store A, 15% of them go to Store B and 5% go to store C 90% of the Store B customers come back to Store B, 5% of them go to Store A and 5% of them go to store C 65% of the customers come back to Store C, 20% of them go to Store A, and 15% of them go to Store B Using the above information, calculate the probability of customers (% or number) going to Store A, Store B and Store C for Day 1, and Day 2 using Matrix Algebra Approach. What market share values hold Store A, B and C based on Day 2 analysis
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