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You have to use Matlab(or just explain the steps) to calculate these problems and submit it with your answer

Suppose that General Motors(GM), Ford(F), and Chrysler(C) each introduce a new hybrid vehicle.

1.1 General Motors keeps 85% of its customers but loses 10% to Ford and 5% to Chrysler

1.2 Ford keeps 80% of its customers but loses 10% to General motors and 10% to Chrysler

1.3 Chrysler keeps 60% of its customers but loses 25% to General Motors and 15% to Ford

Find the distribution of the market in the long run or the steady state vector.

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M91016397

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