Table 14-2
The following data consists of a matrix of transition probabilities (P)of three competing retailers,the initial market share π(0).Assume that each state represents a retailer (Retailer 1,Retailer 2,Retailer 3,respectively)and the transition probabilities represent changes from one month to the next.
P = π(0)= (0.3,0.6,0.1)
-Using the data given in Table 14-2,what is the equilibrium market share?
A)(0.30,0.60,0.10)
B)(0.55,0.33,0.12)
C)(0.44,0.43,0.12
D)(0.55,0.12,0.33)
E)(0.47,0.40,0.13)

Question

Table 14-2
The following data consists of a matrix of transition probabilities (P)of three competing retailers,the initial market share π(0).Assume that each state represents a retailer (Retailer 1,Retailer 2,Retailer 3,respectively)and the transition probabilities represent changes from one month to the next.
P =  π(0)= (0.3,0.6,0.1) 
-Using the data given in Table 14-2,what is the equilibrium market share?
A)(0.30,0.60,0.10) 
B)(0.55,0.33,0.12) 
C)(0.44,0.43,0.12 
D)(0.55,0.12,0.33) 
E)(0.47,0.40,0.13)

Quizplus · Accepted Answer

The Answer of Table 14-2
The following data consists of a matrix of transition probabilities (P)of three competing retailers,the initial market share π(0).Assume that each state represents a retailer (Retailer 1,Retailer 2,Retailer 3,respectively)and the transition probabilities represent changes from one month to the next.
P =  π(0)= (0.3,0.6,0.1) 
-Using the data given in Table 14-2,what is the equilibrium market share?
A)(0.30,0.60,0.10) 
B)(0.55,0.33,0.12) 
C)(0.44,0.43,0.12 
D)(0.55,0.12,0.33) 
E)(0.47,0.40,0.13)

Table 14-2 The Following Data Consists of a Matrix of Transition Probabilities