Solved: A how many clients will each company have next year b how, Basic Statistics

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A how many clients will each company have next year b how

There is a 20% chance that any current client of company A will switch to company B this year. There is a 40% chance that any client of company B will switch to company A this year. If these probabilities are stable over the years, and if company A has 400 clients and company B has 300 clients,

(a) How many clients will each company have next year?

(b) How many clients will each company have in two years?

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Basic Statistics: A how many clients will each company have next year b how

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