M5.1 Matrices and Matrix Operations
A matrix is an array of numbers arranged in rows and columns. Matrices, which are usually enclosed in parentheses or brackets, are used as an effective means of presenting or summarizing business data.
The following 2-row by 3-column matrix, for example, might be used by television station executives to describe the channel-switching behavior of their 5 o’clock TV news audience:
The number in the first row and first column indicates that there is a 0.80 probability that someone currently watching the Channel 6 news will continue to do so next month. Similarly, 15% of Channel ...
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