A coffee shop has two coffee machines, and only one coffee machine is in operation at any giventime. A coffee machine may break down on any given day with probability 0.2 and it is impos-sible that both coffee machines break down on the same day. There is a repair store close tothis coffee shop and it takes 2 days to fix the coffee machine completely. This repair store canonly handle one broken coffee machine at a time. Define your own Markov chain and use it tocompute the proportion of time in the long run that there is no coffee machine in operation inthe coffee shop at the end of the day.

A Markov chain is used to describe the possible sequence of events where the probability of any…

Answered: A coffee shop has two coffee machines,…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Solve bout the volume of securities sold by a brokerage firm, using the following data:
A certain television show airs weekly. Each time it airs, its ratings are categorized as "high," "average," or "low," and transitions between these categorizations each week behave like a Markov chain. If the ratings are high this week, they will be high, average, or low next week with probabilities 40%, 10%, and 50% respectively. If the ratings are average this week, they will be high, average, or low next week with probabilities 60%, 20%, and 20% respectively. If the ratings are low this week, they will be high, average, or low next week with probabilities 70%, 20%, and 10% respectively. Write all answers as integers or decimals. If the ratings are average this week, what is the probability that they will be low two weeks from now? If the ratings are average the first week, what is the probability that they will be low the second week? If the ratings are low the first week, what is the probability that they will be high the third week?
At time 0, John has $2. At times 1, 2,..., he independently plays a game in which he bets $1. With probability p= 0.45, he wins the game and with probability 1 game. His goal is to increase his capital to $3, and as soon as he does, the game is over. The game is also p = 0.55, he loses the over if his capital is reduced to zero. Construct an absorbing Markov chain and answer the following questions. • What is the expected duration of the game? • What is the probability that he goes broke?
Central topic markov chains: Every summer the Yates de los Lagos owners association decides if its annual regatta will be held in June, July or August. If it takes place in June, the probability of good weather is ¾; and if these conditions exist, the regatta of the next year it will be done in June with probability 2/3, in July with probability 1/6 or in August with probability 1/6; but if there is bad weather, next year's regatta will take place in July or August with equal probabilities. If the competition is held in July, good and bad weather have equal probabilities; if there is good weather, the next year's regatta will be held in July; If there is bad weather, the next regatta will take place in August with probability of 2/3 or in June with probability of 1/3. If the regatta takes place in August, the probability of good weather is 2/5; and if there are good conditions atmospheric conditions, next year's regatta will take place in July or August, with equal probabilities; but…
The purchase patterns for two brands of toothpaste can be expressed as a Markov process with the following transition probabilities. To From Special B MDA Special B 0.90 0.10 MDA 0.02 0.98 (a)Which brand appears to have the most loyal customers? Explain. MDA has the most loyal customers because ( ) %? stay with them and only ( ) %? switch to the other brand, as opposed to Special B where only ( )%? stay with them and ( )%? switch. (b) What are the projected market shares for the two brands? (Enter exact numbers as integers, fractions, or decimals.) Special B?1=? MDA?2=?
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The Tiger Sports Shop1 has hired you as an analyst to understand its market position with respect to Clemson merchandise. It is particularly concerned about its major competitor, Mr. Knickerbocker, and which Clemson-related store has the ‘lead’ market share. Recent history has suggested that which Clemson-related store has the ‘lead market share’ can be modeled as a Markov Chain using three states: TSS (Tiger Sports Shop), MK (Mr. Knickerbocker), and Other Company (OC). Data on the lead market share is taken monthly and you have constructed the following one-step transition probability matrix from past data in the picture. a) The current state of the lead market share in October is that Tiger Sports Shop is in the lead (i.e., the Markov Chain in October is TSS). Tiger Sports Shop is considering launching a new brand in February only if it has the lead market share in January. Determine the probability that TSS will launch this new brand. Please show any equations or matrices…
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A coffee shop has two coffee machines, and only one coffee machine is in operation at any given time. A coffee machine may break down on any given day with probability 0.2 and it is impossible that both coffee machines break down on the same day. There is a repair store close to this coffee shop and it takes 2 days to fix the coffee machine completely. This repair store can only handle one broken coffee machine at a time. Define your own Markov chain and use it to compute the proportion of time in the long run that there is no coffee machine in operation in the coffee shop at the end of the day.
solve using Markov Chain
Suppose it is known that in the city of Golden the weather is either "good" or "bad". If the weather is good on any given day, there is a 2/3 chance it will be good the next day. If the weather is bad on any given day, there is a 1/2 chance it will be bad the next day. a) Find the stochastic matrix P for this Markov chain. b) Given that on Saturday there is a 100% chance of good weather in Golden, use the stochastic matrix from part (a) to find the probability that the weather on Monday will be good. The initial state xo = c) Over the long run, what is the probability that the weather in Golden is good?
Alan and Betty play a series of games with Alan winning each game independently with probability p = 0.6. The overall winner is the first player to win two games in a row. Define a Markov chain to model the above problem.

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