A city is served by two newspapers-the Tribune and the Daily News. Each Sunday reader purchases one of the newspapers at a stand. The following transition matrix contains the probabilities of a customer's buying a particular newspaper in a week, given the newspaper purchased the previous Sunday:
This Sunday Next Sunday
Tribune Tribune .65 Daily News .35
.55
Daily News
Daily News .45
Determine the steady-state probabilities for this transition matrix algebraically and explain what they mean.