Find a 3 x 3 stochastic matrix A that has exactly one initial state vector that will generate a Markov chain with a steady-state vector. A= 0.4 0.3 0.3 0.2 0.6 0.2 0.1 0.4 0.5
Find a 3 x 3 stochastic matrix A that has exactly one initial state vector that will generate a Markov chain with a steady-state vector. A= 0.4 0.3 0.3 0.2 0.6 0.2 0.1 0.4 0.5
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Find a 3 x 3 stochastic matrix A that has exactly one initial state vector that will generate a Markov chain with a steady-state vector.
A=
0.4
0.3
0.3
0.2
0.6
0.2
0.1
0.4
0.5](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F522a5096-67b3-4b24-aec9-18024af8987c%2F82bc8400-5fc9-44cc-889f-fa9f67c06fd8%2Fzv1suid_processed.png&w=3840&q=75)
Transcribed Image Text:Find a 3 x 3 stochastic matrix A that has exactly one initial state vector that will generate a Markov chain with a steady-state vector.
A=
0.4
0.3
0.3
0.2
0.6
0.2
0.1
0.4
0.5
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