Homework Help is Here – Start Your Trial Now!
Math
Statistics
Consider a manufacturing station, which can be in 2 conditions. Either "up" or "down". If a machine is "up" on a given day, then it will be "up" the next day with a probability a=0.9. If a machine is "down", it will be "down" the following day with a probability B=0.6. In class we modeled this as a DTMC as follows: Xn S = {0, 1, 2} P = = Number of machines "up" on day n 0.36 0.48 0.16 0.06 0.58 0.36 0.01 0.18 0.81 Suppose that for each day that both machines are up, the company makes $1000, if only one machine is up they make $400, if both machines are down, they lose $300 If on day 0 you have 1 machine working, what is the expected profit on day 2?

Consider a manufacturing station, which can be in 2 conditions. Either "up" or "down". If a machine is "up" on a given day, then it will be "up" the next day with a probability a=0.9. If a machine is "down", it will be "down" the following day with a probability B=0.6. In class we modeled this as a DTMC as follows: Xn S = {0, 1, 2} P = = Number of machines "up" on day n 0.36 0.48 0.16 0.06 0.58 0.36 0.01 0.18 0.81 Suppose that for each day that both machines are up, the company makes $1000, if only one machine is up they make $400, if both machines are down, they lose $300 If on day 0 you have 1 machine working, what is the expected profit on day 2?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
See similar textbooks
icon
Related questions
Question

Please help solve the problem provided below

Consider a manufacturing station, which can be in 2 conditions. Either "up" or "down". If a machine is "up" on a given day, then it will be "up" the next day with a probability a=0.9. If a machine is "down", it will be "down" the following day with a probability B=0.6. In class we modeled this as a DTMC as follows: Xn S = {0, 1, 2} P = = Number of machines "up" on day n 0.36 0.48 0.16 0.06 0.58 0.36 0.01 0.18 0.81 Suppose that for each day that both machines are up, the company makes $1000, if only one machine is up they make $400, if both machines are down, they lose $300 If on day 0 you have 1 machine working, what is the expected profit on day 2?
Transcribed Image Text:Consider a manufacturing station, which can be in 2 conditions. Either "up" or "down". If a machine is "up" on a given day, then it will be "up" the next day with a probability a=0.9. If a machine is "down", it will be "down" the following day with a probability B=0.6. In class we modeled this as a DTMC as follows: Xn S = {0, 1, 2} P = = Number of machines "up" on day n 0.36 0.48 0.16 0.06 0.58 0.36 0.01 0.18 0.81 Suppose that for each day that both machines are up, the company makes $1000, if only one machine is up they make $400, if both machines are down, they lose $300 If on day 0 you have 1 machine working, what is the expected profit on day 2?
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS