To investigate brand switching between different brands of detergent powder, a research company surveyed shoppers in an
Question:
To investigate brand switching between different brands of detergent powder, a research company surveyed shoppers in an area to discover their behaviour. The survey on a number of shoppers in relation to three leading brands Superwash, Clean and Shine has revealed the following information.
(a) Using the information, develop transition probability matrix.
(b) Calculate the market share for each brand after two purchases.
(c) Calculate the market share for each brand in the long run.
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