Solved: A market analysis has determined that 20% of the
Chapter , Problem 110(choose chapter or problem)
A market analysis has determined that 20% of the people currently using the QuikPhoto computer program will switch to the PhotoPro program in the next year. Of the people using PhotoPro, 45% plan on switching to QuikPhoto in the next year. If there are currently 2 million people using QuikPhoto and 1.5 million people using PhotoPro, then, assuming these trends continue, the matrix equation 32 1.54B0.80 0.200.45 0.55Rn= 3Q Pgives the number of people Q using QuikPhoto and the number of people P using PhotoPro in n years. Use this equation to estimate, to the nearest tenth of a million, the number of people who will be using each program in 3 years.
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