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Consumers in Shelbyville have a choice of one of two fast food restaurants, Krusty's and McDonalds. Both have trouble keeping customers. Of those who last
Consumers in Shelbyville have a choice of one of two fast food restaurants, Krusty's and McDonalds. Both have trouble keeping customers. Of those who last went to Krusty's, 58% will go to McDonalds next time, and of those who last went to McDonald's, 76% will go to Krusty's next time.
Just part c
Consumers in Shelbyville have a choice of one of two fast food restaurants, Krusty's and McDonalds. Both have trouble keeping customers. Of those who last went to Krusty's, 58% will go to McDonalds next time, and of those who last went to McDonald's, 76% will go to Krusty's next time. (a) Find the transition matrix describing this situation. Note that Krusty's was named first in the question, so the variables corresponding to Krusty's should come first and those corresponding to McDonalds should come second in the linear systems. 0.42 0.76 0.58 0.24 (b) A customer goes out for fast food every Sunday, and just went to Krusty's. i. What is the probability that two Sundays from now she will go to McDonald's? 0.3828 ii. What is the probability that three Sundays from now she will go to McDonald's? 0.449848 (C) Suppose a consumer has just moved to Shelbyville, and there is a 40% chance that he will go to Krusty's for his first fast food outing. What is the probability that his third fast food experience will be at Krusty's? 0.4263 (d) In the long run, what fraction of the population will go to Krusty's and what fraction will go to McDonalds each Sunday? Express your 0.56716 answer as a vector. 0.43283Step by Step Solution
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