The matrix of transition probabilities below deals with brand loyalty to Bark Bits and Canine Chow dog food.

a.What are the steady state probabilities?
b.What is the probability that a customer will switch brands on the next purchase after a large number of periods?

Question

The matrix of transition probabilities below deals with brand loyalty to Bark Bits and Canine Chow dog food.
  
a.What are the steady state probabilities?
b.What is the probability that a customer will switch brands on the next purchase after a large number of periods?

Quizplus · Accepted Answer

The Answer of The matrix of transition probabilities below deals with brand loyalty to Bark Bits and Canine Chow dog food.
  
a.What are the steady state probabilities?
b.What is the probability that a customer will switch brands on the next purchase after a large number of periods?

The Matrix of Transition Probabilities Below Deals with Brand Loyalty