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baddinlol
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I can't get the right answer for this probability question
 2 years ago
 2 years ago
baddinlol Group Title
I can't get the right answer for this probability question
 2 years ago
 2 years ago

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baddinlol Group TitleBest ResponseYou've already chosen the best response.0
I must use transition matrices
 2 years ago

baddinlol Group TitleBest ResponseYou've already chosen the best response.0
The question is; an internet company has 80% of its customers on a dial plan and 20% of the cable plan
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
Can you just put the whole question out, instead of writing in small segments.
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
No worries, it just helps to refer to one post instead of searching each post for parts of a question.
 2 years ago

baddinlol Group TitleBest ResponseYou've already chosen the best response.0
An internet company has 80% of its customers on a dial plan and 20% of the cable plan. They decide to bring out a deal which the market manager estimates each month, 20% of the customers on the dial up plan will change to the cable modem plan and 5% of the customers on the cable plan will change to the dial up plan. No customers will stop using the company. After four months, what proportion of the present customers will now be on the dial up plan?
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
Alright, does the question use numbers, or just percentages?
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
I mean, you just listed that there are 80% and 20%, do these percentages represent any numbers?
 2 years ago

baddinlol Group TitleBest ResponseYou've already chosen the best response.0
Oh no, they represent probablities
 2 years ago

baddinlol Group TitleBest ResponseYou've already chosen the best response.0
if you divide them by 100 i suppose
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
Thats fine, just use any number then. It would make the calculations easier.
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
So, say you have a total of 100 customers. 80% use dial up and 20% use cable
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
now after 1 month, 20% of the dial up customers will use the cable
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
and 5% will use dial up
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
Okay, that would give you the data for 1 month
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
You want to continue doing this for 4 months.
 2 years ago

baddinlol Group TitleBest ResponseYou've already chosen the best response.0
But I must do the question using transition matrices
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
Thats fine, Do you know what a transition matrix is?
 2 years ago

baddinlol Group TitleBest ResponseYou've already chosen the best response.0
I tried setting up \[\left[\begin{matrix}0.8 & 0.2 \\ 0.05& 0.95\end{matrix}\right]\]
 2 years ago

baddinlol Group TitleBest ResponseYou've already chosen the best response.0
I multiplied that by itself 4 times
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
So far, it looks somewhat correct. You are missing
 2 years ago

baddinlol Group TitleBest ResponseYou've already chosen the best response.0
And then multiplied it by\[\left(\begin{matrix}0.8 \\ 0.2\end{matrix}\right)\]
 2 years ago

baddinlol Group TitleBest ResponseYou've already chosen the best response.0
And i got \[\left(\begin{matrix}0.471875 \\ 0.28203125\end{matrix}\right)\]
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
It would be set up a little differently.
 2 years ago

baddinlol Group TitleBest ResponseYou've already chosen the best response.0
How would i set it up?
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
The first row would include the percentages
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
sorry, column
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
and the next column would be the changes
 2 years ago

baddinlol Group TitleBest ResponseYou've already chosen the best response.0
Oh so columns have to add upto 100 (in terms of percentages)?
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
kinda, Its more like each row includes the number of variables. In this case there are 4 months.
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
So I would set up this matrix using a 4x4
 2 years ago

baddinlol Group TitleBest ResponseYou've already chosen the best response.0
Oh ok, thanks for your help =D
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
dw:1351223751855:dw
 2 years ago

zordoloom Group TitleBest ResponseYou've already chosen the best response.1
Just continue from here. Hope that somwhat helped
 2 years ago
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