4. The weather in Columbus is either good, indifferent, or bad on any given day. If the weather is good today, there is a 60% chance the weather will be good tomorrow, a 30% chance the weather will be indifferent, and a 10% chance the weather will be bad. If the weather is indifferent today, it will be good tomorrow with probability 40 and indifferent with probability .30. Finally, if the weather is bad today, it will be good tomorrow with probability 40 and indifferent with probability .50. a. What is the stochastic matrix for this situation? b. Suppose there is a 50% chance of good weather today and a 50% chance of indifferent weather. What are the chances of bad weather tomorrow? c. Suppose the predicted weather for Monday is 40% in- different weather and 60% bad weather. What are the chances for good weather on Wednesday?

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4. The weather in Columbus is either good, indifferent, or bad
on any given day. If the weather is good today, there is
a 60% chance the weather will be good tomorrow, a 30%
chance the weather will be indifferent, and a 10% chance the
weather will be bad. If the weather is indifferent today, it will
be good tomorrow with probability 40 and indifferent with
probability .30. Finally, if the weather is bad today, it will
be good tomorrow with probability 40 and indifferent with
probability .50.
a. What is the stochastic matrix for this situation?
b. Suppose there is a 50% chance of good weather today
and a 50% chance of indifferent weather. What are the
chances of bad weather tomorrow?
c. Suppose the predicted weather for Monday is 40% in-
different weather and 60% bad weather. What are the
chances for good weather on Wednesday?
Transcribed Image Text:4. The weather in Columbus is either good, indifferent, or bad on any given day. If the weather is good today, there is a 60% chance the weather will be good tomorrow, a 30% chance the weather will be indifferent, and a 10% chance the weather will be bad. If the weather is indifferent today, it will be good tomorrow with probability 40 and indifferent with probability .30. Finally, if the weather is bad today, it will be good tomorrow with probability 40 and indifferent with probability .50. a. What is the stochastic matrix for this situation? b. Suppose there is a 50% chance of good weather today and a 50% chance of indifferent weather. What are the chances of bad weather tomorrow? c. Suppose the predicted weather for Monday is 40% in- different weather and 60% bad weather. What are the chances for good weather on Wednesday?
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