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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:
Watering Troughs
Containers or structures designed to hold water for animals to drink from, commonly found in agricultural settings.
Comport
To conduct oneself or behave in a particular manner.
Substantial Performance
A legal concept indicating that a party has fulfilled enough of its contractual obligations to warrant payment, despite minor deviations from the initially agreed terms.
Rendered Performance
The act of providing or completing a service as per the terms of an agreement or contract.
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