Answered step by step
Verified Expert Solution
Question
1 Approved Answer
*// The initial market shares for central heating Fuels (electricity, gas and oil), denoted by F0 = F1, F2, F3], for Maine are 20%, 39%
*//
The initial market shares for central heating Fuels (electricity, gas and oil), denoted by F0 = F1, F2, F3], for Maine are 20%, 39% and 41% espectively. Over the last few years there have been very consistent trends in customer behaviour as follows: Of those using electricity at the start of the year, 7% will change to gas and 14% will change to oil. Of those using gas at the start of the year, 12 will change to electricity and 5% will change t oil. Of those using oil at the start of the year, 12% will change to electricity and 4% will change t gas. Assuming the trends in customer choice continue, determine the percentage market shares after 3 years (i.e. P3) and input your answers below rounded to 2 decimal places. Doing this question by hand or with an ordinary calculator will seriously damage your sanity: please use Excel or other software such as Deriv Matlab, Maple, Mathematica or similar to evaluat the required power of the transition matrix. ercentage market share of electricity = % ercentage market share of gas = % Percentage market share of oil = % I INTERPRETIT AS THE FOUNDING SI INTERPRET I INTERPRET FATHERS INTENDED SIT AS THE SITUATION THE DEATH PENALTY INTERYE EQUKSES ACCORDING TO TERRE THE TIMES GORDOE PE PEOPLE INTERPRET I DON'T V DARTOONS shartsStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started