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

question 90

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 2's estimated market share in the next period.

• A)0.26
• B)0.27
• C)0.28
• D)0.29

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