According the Ghana Statistical Service data collected in 2020 shows that, 5% of individuals living within the city move to the rural areas during a one-year period, while 4% of individuals living in the rural areas move to the city a one-year period. Assuming that, this process is modeled by a Markov process with two states: city and rural areas a) i. Prepare the matrix of transition probabilities ii. Compute the steady-state probabilities. iii. In a particular District, 40% of the population lives in the city, and 60% of the population lives in the suburbs. What population changes do your steady-state probabilities project for this metropolitan area?
Compound Probability
Compound probability can be defined as the probability of the two events which are independent. It can be defined as the multiplication of the probability of two events that are not dependent.
Tree diagram
Probability theory is a branch of mathematics that deals with the subject of probability. Although there are many different concepts of probability, probability theory expresses the definition mathematically through a series of axioms. Usually, these axioms express probability in terms of a probability space, which assigns a measure with values ranging from 0 to 1 to a set of outcomes known as the sample space. An event is a subset of these outcomes that is described.
Conditional Probability
By definition, the term probability is expressed as a part of mathematics where the chance of an event that may either occur or not is evaluated and expressed in numerical terms. The range of the value within which probability can be expressed is between 0 and 1. The higher the chance of an event occurring, the closer is its value to be 1. If the probability of an event is 1, it means that the event will happen under all considered circumstances. Similarly, if the probability is exactly 0, then no matter the situation, the event will never occur.
According the Ghana Statistical Service data collected in 2020 shows that, 5% of individuals living within the city move to the rural areas during a one-year period, while 4% of individuals living in the rural areas move to the city a one-year period. Assuming that, this process is modeled by a Markov process with two states: city and rural areas
a) i. Prepare the matrix of transition probabilities
ii. Compute the steady-state probabilities.
iii. In a particular District, 40% of the population lives in the city, and 60% of the population lives in the suburbs. What population changes do your steady-state probabilities project for this metropolitan area?
Step by step
Solved in 2 steps with 2 images
