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What is the probability that the randomly selected person was from in town AND took the bus/train? Note: Round answer to two decimal places (0.45, 0.67).

What is the Var(PPA) [variance of PPA]? Note: Round answer to two decimal places (0.45, 0.67).

The distance traveled and the cost of the trip will depend on the order in which the cities are visited. How many different itineraries are possible? Note: Enter a whole number, no decimals necessary.

Hidden States and the Prediction-Intervention Gap Section 3.6 and 3.7 Section 3.6 introduces the hidden Markov model as a way to infer a customer’s latent state from observed behavior, and Section 3.7 closes with the chapter’s central caution that accuracy and usefulness differ. Consider a model that flags thousands of customers as at risk. In what way does the chapter connect state modeling to the decision about whom to act on?

Dynamic Capabilities: Kodak and Fujifilm Section 4.2 Section 4.2 supplements the resource-based view with Teece’s dynamic capabilities and illustrates them through the Kodak and Fujifilm mini case, two firms with similar endowments and opposite fates. Consider an incumbent rich in brands, patents, and relationships facing a declining category. According to the chapter, what explains why one firm survived and the other failed?

The Analytics Progression and Strategic Judgment Section 1.9 Section 1.9 organizes analytical methods by the question they answer, moving from descriptive through predictive and prescriptive to generative, and closes with two cautions about how these tools relate to strategy. Consider a churn model that accurately flags customers likely to leave. According to the chapter, why does a strong predictive model fall short of constituting strategy?

Customer Equity as the Objective Section 1.3 Section 1.3 identifies customer equity, the total discounted lifetime value of current and future customers, as what the firm is actually trying to build, and decomposes it into brand, offering, and relationship equity. Consider a CFO evaluating three unrelated marketing proposals. How does the customer equity framing help the firm compare otherwise dissimilar marketing initiatives?

Thinking One Move Ahead Section 4.1 Section 4.1 establishes competitive reaction as the third first principle, classifies the forms reaction takes, and makes anticipation systematic through three questions a strategist asks about each capable rival before committing. Consider a firm planning a price cut in a market with a large incumbent. According to the chapter, how should a strategist anticipate competitive reaction, and what does the exercise change?

Lifecycle Models and Their Limits Section 3.3 Section 3.3 presents the customer, product, and industry lifecycles as qualitative first approximations, includes Dhalla and Yuspeh’s warning about the product lifecycle, and explains through the Bass model why growth eventually stalls. Consider a manager who has just labeled a product mature. According to the chapter, why should lifecycle stage be treated as a hypothesis rather than a fate?