### Employment Transition Data#### Table Summary:The table below represents employment transitions from last year to this year, along with percentages indicating the likelihood of transition from one employment type to another.| Employment | Employment | Percentage ||-------------------|------------------|------------|| Last Year | This Year | || **Industry** | Industry | 60 || | Small Business | 10 || | Self-Employed | 30 || **Small Business**| Industry | 10 || | Small Business | 70 || | Self-Employed | 20 || **Self-Employed** | Industry | 10 || | Small Business | 60 || | Self-Employed | 30 |#### Instructions:Assume that:- **State 1** is Industry- **State 2** is Small Business- **State 3** is Self-EmployedFind the transition matrix for this Markov process.#### Transition Matrix $ P $:This matrix displays the probability of transitioning from one state to another. Fill in the probability values based on the table data.\[ P = \begin{bmatrix} \frac{60}{100} & \frac{10}{100} & \frac{30}{100} \\\frac{10}{100} & \frac{70}{100} & \frac{20}{100} \\\frac{10}{100} & \frac{60}{100} & \frac{30}{100} \end{bmatrix} \]

We have been provided with the information as: Employment Employment Last Year This Year Percentage Industry Industry 60 Small Business 10 Self-Employed 30 Small Business Industry 10 Small Business 70 Self-Employed 20 Self-Employed Industry 10 Small Business 60 Self-Employed 30Let us assume that State 1 is industry, State 2 is Small Business and State 3 is Self-Employed. The transition matrix for the Markov process is given as below: P=0.60.10.30.10.70.20.10.60.3

Math

Statistics

Employment Employment Last Year This Year Percentage Industry Industry 60 Small Business 10 Self-Employed 30 Small Business Industry 10 Small Business Self-Employed 70 20 Self-Employed Industry 10 Small Business 60 Self-Employed 30 Assume that state 1 is Industry, that state 2 is Small Business, and that state 3 is Self- Employed. Find the transition matrix for this Markov process. P = ... ... ...

Employment Employment Last Year This Year Percentage Industry Industry 60 Small Business 10 Self-Employed 30 Small Business Industry 10 Small Business Self-Employed 70 20 Self-Employed Industry 10 Small Business 60 Self-Employed 30 Assume that state 1 is Industry, that state 2 is Small Business, and that state 3 is Self- Employed. Find the transition matrix for this Markov process. P = ... ... ...

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

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Question

### Employment Transition Data

#### Table Summary:
The table below represents employment transitions from last year to this year, along with percentages indicating the likelihood of transition from one employment type to another.

| Employment | Employment | Percentage |
|-------------------|------------------|------------|
| Last Year | This Year | |
| **Industry** | Industry | 60 |
| | Small Business | 10 |
| | Self-Employed | 30 |
| **Small Business**| Industry | 10 |
| | Small Business | 70 |
| | Self-Employed | 20 |
| **Self-Employed** | Industry | 10 |
| | Small Business | 60 |
| | Self-Employed | 30 |

#### Instructions:

Assume that:
- **State 1** is Industry
- **State 2** is Small Business
- **State 3** is Self-Employed

Find the transition matrix for this Markov process.

#### Transition Matrix $ P $:
This matrix displays the probability of transitioning from one state to another. Fill in the probability values based on the table data.

\[
P = \begin{bmatrix}
\frac{60}{100} & \frac{10}{100} & \frac{30}{100} \\
\frac{10}{100} & \frac{70}{100} & \frac{20}{100} \\
\frac{10}{100} & \frac{60}{100} & \frac{30}{100}
\end{bmatrix}
\]

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