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3.1.7 case 2 markov chain

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Vishal Tidake
Vishal Tidake

Case 2 on Markov Chain

Data & Analytics
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www.sanjivanimba.org.in Unit No.3. DECISION SCIENCE Presented By: Dr. V. M. Tidake Ph. D (Financial Management), MBA(FM), MBA(HRM) BE(Chem) Dean, EDP & Associate Professor MBA 1 Sanjivani College of Engineering, Kopargaon Department of MBA www.sanjivanimba.org.in
www.sanjivanimba.org.in 302-DECISION SCIENCE Unit No.3 Marko Chain & Simulation 3.1.7 Case 2: Markov Chain Presented By: Dr. V. M. Tidake Ph. D (Financial Management), MBA(FM), MBA(HRM) BE(Chem) Dean EDP & Associate Professor MBA 2 Sanjivani College of Engineering, Kopargaon Department of MBA www.sanjivanimba.org.in
www.sanjivanimba.org.in MARKOV CHAIN & SIMULATION  At the End of the Session Student will be able to understand- A. Case 2: Markov Chain
www.sanjivanimba.org.in MARKOV CHAIN Market Share of Brand A, B, C are 50%, 30% and 20%. Customers shift their brands. Brand switching matrix every quarter is given below- Find Market Share at the end of Quarter. P = A B C A 50% 30% 20% B 20% 70% 10% C 20% 20% 60%
www.sanjivanimba.org.in MARKOV CHAIN Here we have, for the present year (n=0) R0 = 0.5 0.3 0.2 - Initial Condition Market share at the end of the Quarter 1 i.e. at n=1 is R1 = R0 * P 0.5 0.3 0.2 R1 = 0.5 0.3 0.2 * 0.2 0.7 0.1 0.2 0.2 0.6 R1 = 0.25+0.06+0.04 0.15+0.21+0.04 0.10+0.03+0.12 R1 = 0.35 0.40 0.25
www.sanjivanimba.org.in EXERCISE  Solve the Case 2 of Markov Chain in the Notebook as a practice Exercise.
www.sanjivanimba.org.in For More Details Contact Dr. V M Tidake tidkevishal@gmail.com tidkevishalmba@sanjivani.org.in
www.sanjivanimba.org.in Thank You

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3.1.7 case 2 markov chain