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This is a 2 part question. The first question: Render, Quantitative Analysis for Management, Edition 12. 14-10. Over any given month, Dress-Rite loses 10% of
This is a 2 part question. The first question: Render, Quantitative Analysis for Management, Edition 12. 14-10. Over any given month, Dress-Rite loses 10% of its customers to Fashion, Inc., adn 20% of its market to Luxury Living. But Fashion, Inc., loses 5% of its market to Dress-Rite and 10% of its market to Luxury Living each month; and Luxury Living loses 5% of its market to Fashion Inc., and 5% of its market to Dress-rite. At the present time, each of these clothing stores has an equal share of the market. What do you think the market shares will be next month? What will they be in three months?" The Second Question: Render, Quantitative Analysis for Management, Edition 12. 14-11 Draw a tree diagram to illustrate what the market shares would be net month from problem 14-10.
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