Table 15-2 The Following Data Consists of a Matrix of Transition Probabilities

question 2

Multiple Choice

Table 15-2
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 15-2, find the market shares for the three retailers in month 1.

• A) π(1) = (0.09, 0.42, 0.49)
• B) π(1) = (0.55, 0.33, 0.12)
• C) π(1) = (0.18, 0.12, 0.70)
• D) π(1) = (0.55, 0.12, 0.33)
• E) π(1) = (0.33, 0.33, 0.33)

---

Definitions:

Consideration

The degree of empathy, respect, and understanding a leader or organization shows towards its members.

Precondition

A condition that must be met or required before another event or operation can occur.

Initiating Structure

A leadership behavior that focuses on defining roles, tasks, and relationships in the pursuit of goal achievement.

Task Structure

The degree to which job tasks are defined, including clarity, procedures, and goals, influencing how tasks are executed.