A forest consists of two types of trees: those that are 0-5 ft tall, and those that are taller than 5 ft (>5'). Each year, 40% of all 0-5' ft tall trees die, 10% are sold for $20 each, 30% stay between 0 and 5 feet, and 20% grow to be more than 5 feet. Each year, 50% of all trees taller than 5 feet are sold for $50, 20% are sold for $30, and 30% remain in the forest. The following is the Transition Probability Matrix: 0-5' >5' Die $20 $30 $50 0-5' 0.3 0.2 0.4 > 5' 0 1 P = Die $20 $30 $50 0 0 0 0 0 0.3 0 0 0 0 0 0 0 0.10 0 0 1 0 0 0 0.2 0 0.5 0 0 0 0 1 0 0 1 (a) What is the probability that a 0-5-foot-tall tree will die before being sold? (b) If a tree (less than 5 feet) is planted, what is the expected revenue earned from that tree?
A forest consists of two types of trees: those that are 0-5 ft tall, and those that are taller than 5 ft (>5'). Each year, 40% of all 0-5' ft tall trees die, 10% are sold for $20 each, 30% stay between 0 and 5 feet, and 20% grow to be more than 5 feet. Each year, 50% of all trees taller than 5 feet are sold for $50, 20% are sold for $30, and 30% remain in the forest. The following is the Transition Probability Matrix: 0-5' >5' Die $20 $30 $50 0-5' 0.3 0.2 0.4 > 5' 0 1 P = Die $20 $30 $50 0 0 0 0 0 0.3 0 0 0 0 0 0 0 0.10 0 0 1 0 0 0 0.2 0 0.5 0 0 0 0 1 0 0 1 (a) What is the probability that a 0-5-foot-tall tree will die before being sold? (b) If a tree (less than 5 feet) is planted, what is the expected revenue earned from that tree?
MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Transcribed Image Text:A forest consists of two types of trees: those that are 0-5 ft tall, and those that are taller
than 5 ft (>5'). Each year, 40% of all 0-5' ft tall trees die, 10% are sold for $20 each,
30% stay between 0 and 5 feet, and 20% grow to be more than 5 feet. Each year, 50%
of all trees taller than 5 feet are sold for $50, 20% are sold for $30, and 30% remain in
the forest. The following is the Transition Probability Matrix:
0-5' >5' Die $20 $30 $50
P =
0-5' [0.3
> 5'
Die
$20
$30
$50
0
0
0
0
0
0.2
0.3
0
0
0
0
0.4
0
1
0
0
0
0
0.5
0
0
1
0
0 1
0.10 0
0
0.2
0
0
1
0
0
0
(a) What is the probability that a 0-5-foot-tall tree will die before being sold?
(b) If a tree (less than 5 feet) is planted, what is the expected revenue earned from
that tree?
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