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.
Transcribed Image Text:
Current Buy Previous Buy Number Superwash Superwash 200 Clean Clean 150 Shine Shine 100 Clean Superwash 50 Shine Superwash 25 Superwash Clean 80 Shine Clean 45 Superwash Shine 130 Clean Shine 20
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