Table 14-1 The Following Data Consists of a Matrix of Transition Probabilities

question 33

Multiple Choice

Table 14-1
The following data consists of a matrix of transition probabilities (P) of three competing companies, and the initial market share π(0) .Assume that each state represents a company (Company 1, Company 2, Company 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 in Table 14-1, determine Company 1's estimated market share in the next period.

• A)0.10
• B)0.20
• C)0.42
• D)0.47

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Definitions:

Seligman

A psychologist known for his work on learned helplessness, positive psychology, and well-being.

Depression

A mood disorder characterized by persistent feelings of sadness, hopelessness, and a lack of interest or pleasure in life.

Learned Helplessness

A state where an individual experiences feelings of being powerless, resulting from a traumatic experience or ongoing inability to achieve success.

Seligman

A psychologist known for his work on learned helplessness and positive psychology.