Three Airlines Compete on the Route Between New York and Los

question 12

Essay

Three airlines compete on the route between New York and Los Angeles. Stanton Marketing has performed an analysis of first class business travelers to determine their airline choice. Stanton has modeled this choice as a Markov process and has determined the following transition probabilities. ​
a. Show the random number assignments that can be used to simulate the first class business traveler's next airline when her last airline is A, B, and C.
b. Assume the traveler used airline C last. Simulate which airline the traveler will be using over her next 25 flights. What percent of her flights are on each of the three airlines? Use the following random numbers, going from left to right, top to bottom.

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Definitions:

Still Photos

Photographs that capture a single moment in time, particularly in contrast to moving images.

Size Constancy

A perceptual process allowing a person to perceive an object as the same size regardless of its distance from the observer.

Optical Illusions

Visual perception phenomena where the information perceived by the eye and interpreted by the brain differs from the physical reality, often leading to misinterpretation.

Accurate Judgments

The ability to make conclusions or assessments that are correct and based on evidence or sound reasoning.