1. The problem statement, all variables and given/known data Hello! Please, take a look at the problem described in the attached file. The question is: Explain why the transition matrix does what we want it to do. 2. Relevant equations 3. The attempt at a solution (sorry, I don't know yet how to type formulas) I don't quite understand this transition matrix. 0.90 0.20 0.10 0.80 I assume that the first column refers to Tribune readers and second one to Picayune readers. Then the fist row should refer to those who are loyal to T and P, respectively; and second row - to those who would like to switch. But textbook option suggests a different view. Please, help me to understand this matrix. Thank you!