Brand Switching. A Markov chain model for approximating the sales of several brands of a particular product that customers continually purchase (e.g., shampoo, soda, bread) is as follows. Suppose...

Brand Switching. A Markov chain model for approximating the sales of several brands of a particular product that customers continually purchase (e.g., shampoo, soda, bread) is as follows. Suppose there are four brands of a product labeled 1, 2, 3, 4, and the successive brands that a typical customer chooses to purchase over time is a Markov chain
_Xn
with transition matrix