Question
Student enrollment at Iona College has been going up steadily in the past few years. The college bookstore however, is having difficulty retaining loyalty from
Student enrollment at Iona College has been going up steadily in the past few years. The college bookstore however, is having difficulty retaining loyalty from its students to purchase books from the bookstore. There is stiff competition from Ebay, and Amazom.com. Historical data suggests the following transition probability matrix: Iona Bookstore Ebay Amazon.com Iona Bookstore .6 .3 .10 Ebay 0 .7 .3 Amazon.com .1 .1 .8 At the present time, 60% of the students purchase their textbooks from the college bookstore, 20% from Ebay, and 20% from Amazon.com Graph your results showing the progression of the market share over time.
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