EmploymentEmploymentLast YearThis YearPercentageIndustryIndustry80Small Business10Self-Employed10Small BusinessIndustry10Small Business60Self-Employed30Self-EmployedIndustry10Small Business80Self-Employed10Assume 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 =

Given data: This year→ Last year↓ Industry Small business Self-employed Industry 0.80 0.10 0.10 Small business 0.10 0.60 0.30 Self-employed 0.10 0.80 0.10Hence, the transition matrix is P=0.800.100.100.100.600.300.100.800.10

Math

Advanced Math

Employment Employment Last Year This Year Percentage Industry Industry 80 Small Business 10 Self-Employed 10 Small Business Industry Small Business 10 60 Self-Employed 30 Self-Employed Industry Small Business Self-Employed 10 80 10 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.

Employment Employment Last Year This Year Percentage Industry Industry 80 Small Business 10 Self-Employed 10 Small Business Industry Small Business 10 60 Self-Employed 30 Self-Employed Industry Small Business Self-Employed 10 80 10 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.

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Linear Algebra