If the current share of the market for each distributor A, B, and C in is A: 25%, B
Chapter 10, Problem 14(choose chapter or problem)
If the current share of the market for each distributor A, B, and C in is A: 25%, B: 25%, C: 50%, (a) Show that this situation forms a Markov chain and find the transition matrix that models it. (b) Assuming this trend continues 1 more year, what share of the market does each distributor have? (c) Assuming this trend continues 2 more years, what share of the market does each distributor have? (d) In the long run, what is each distributors share?
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