Find the transition matrix p and the matrices q and r

Assignment Help Project Management

Reference no: EM131263297

For the Markov chain of Exercise , find the average number of years a first-year, second-year and third-year student will remain in university.

Exercise
The following problem is based upon one in Kemeny and Snell (1960). In each year of a three -year degree course, a university student has probability p of not returning the following year, probability q ofhaving to repeat the year and probability r of passing (p +q +r = 1).

The states are: dropped out (s₁); graduated (S₂), is a third-year student (S₃), is a secondyear student (S₄); and is a first-year student (S₅); Find the transition matrix P and the matrices Q and R.

(Note that this is a random walk with absorbing barriers.)

Reference no: EM131263297

Questions Cloud

Should firm increase or decrease the amount of capital usedg : Is the firm using the cost minimizing combination of labor and capital? if not, should the firm increase or decrease the amount of capital used in its production process?

What they are doing to support the sustainability effort : At least 3 sources of information as footnotes or separate bibliography, As a conclusion of your report, state your opinion whether this company is using the right (or wrong) approach and should other companies start adopting their methods?

Journal entries to record the initial capital investments : On February 1, 2014, Tessa Williams and Audrey To formed a partnership in the province of Ontario. Williams contributed $90,000 cash and To contributed land valued at $130,000 and a small building valued at $190,000. Present General Journal entries t..

Business productivity and cost reduction : According to the text, the authors asserted that business productivity and cost reduction were the top concerns by a wide margin among the top five management concerns. Give your opinion on whether or not you agree with this assertion. Justify yo..

Find the transition matrix p and the matrices q and r : For the Markov chain of Exercise , find the average number of years a first-year, second-year and third-year. - Find the transition matrix P and the matrices Q and R.

Write a program larger that reads two numbers : Write a program larger.s that reads two numbers from stdin, and prints the larger of the two numbers. The numbers can be positive, negative, or zero

Use positive or negative accounts receivable confirmations : What best describes the situation for the auditor to use positive or negative accounts receivable confirmations? Use negative requests if accounts receivable consists of many small accounts and positive confirmations if accounts receivable consists o..

What is the optimal amount of output the ?rm : Solve for the marginal cost function using your result from part a). Suppose p = 50 and that the ?rm is a price taker. What is the optimal amount of output the ?rm should produce?

Annual cost data at full capacity : The Dorilane Company specializes in producing a set of wood patio furniture consisting of a table and four chairs. The set enjoys great popularity, and the company has ample orders to keep production going at its full capacity of 4,100 sets per year...

User Account

All Pages