Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. advance math
  3. in a study of the domestic market share of the thr

In a study of the domestic market share of the three major automobile manufacturers A, B,...

70.2K

Verified Solution

Question

Advance Math

In a study of the domestic market share of the three majorautomobile manufacturers A, B, and C in a certain country, it wasfound that their current market shares were 50%, 35%, and 15%,respectively. Furthermore, it was found that of the customers whobought a car manufactured by A, 75% would again buy a carmanufactured by A, 15% would buy a car manufactured by B, and 10%would buy a car manufactured by C. Of the customers who bought acar manufactured by B, 90% would again buy a car manufactured by B,whereas 5% each would buy cars manufactured by A and C. Finally, ofthe customers who bought a car manufactured by C, 85% would againbuy a car manufactured by C, 5% would buy a car manufactured by A,and 10% would buy a car manufactured by B. Assuming that thesesentiments reflect the buying habits of customers in the future,determine the market share that will be held by each manufacturerafter the next two model years. (Round your answers to the nearestpercent.)

A _____%

B _______%

C _________%

Answer & Explanation Solved by verified expert
3.9 Ratings (714 Votes)
    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Could you please solve these problems and explain the steps? Consider a 3-input function G whose...

Electrical Engineering
Q

Compare and contrast the approach of different \"spokespersons\" of peace and justice from Buddhism, Judaism and...

Psychology
Q

39 A small ball having charge q is suspended from a weightless inextensible string It...

Physics
Q

A R C circuit is shown in figure Each resistor is having a resistance R...

Physics
Q

Consider the following set 2 S x x Z Which of the sets given below...

Basic Math
Q

Use a table of values to evaluate lim X 0 Olim X 0 Olim X...

Calculus
Q

Consider the following scenario Choose the sentence that represents a reasonable You do not need...

Algebra
Q

what are your expectations for next semester of business management?

Accounting
Q

What amount ($ in millions) does Target report for net property and equipment for the...

Accounting
Q

1.) The Miracle Company had 20,000 units in process on December 31, 2016 which was...

Accounting
Q

Thurston Petroleum is considering a new project that complements its existing business. The machine required...

Finance
Q

3. Government of Ghana has just issued a set of 10-year 8% coupon bonds with...

Finance