(i) If volume is high this week, then next week it will be high with a probability of 0.8 and low with a probability of 0.2.(ii) If volume is low this week then it will be high next week with a probability of 0.3.The manager estimates that the volume is three times as likely to be high as to be low this week.Assume that state 1 is high volume and that state 2 is low volume.(Note: Express your answers as decimal fractions rounded to 4 decimal places (if they have more than 4 decimal places).)(1) Find the transition matrix P for this Markov chain:.8.2P =.3.7(2) Find the state vector that represents the manager's estimateXo =3/41/4(3) Using this estimate as the initial state vector, find the state vector for two weeks from now:X2 =|What is the probability that two weeks from now the volume will be high?(4) Again, using the manager's estimate as the initial state vector, find the state vector for three weeks from now:X3 =What is the probability that three weeks from now the volume will be high?(5) Suppose, contrary to the manager's estimate, that this week the volume is low. How many weeks must pass before a week comes along in which the probability of high volume isat least 0.5?

Here (i) if the volume is high this week, then next week it will be high with a probability of 0.8…

Answered: (i) If volume is high this week, then…

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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Becky and Carla take an advanced yoga class. Becky can hold 29% of her poses for over a minute, while Carla can hold 35% of her poses for over a minute. Suppose each yoga student is asked to hold 50 poses. Let B the proportion of poses Becky can hold for over a minute and C = the proportion of poses Carla can hold for over a minute. What is the probability that Becky's proportion of poses held for over a minute is greater than Carla's? Find the z-table here. O 0.159 O 0,259 0 0.448 O 0,741 Save and Exit Next Submit Math and rem 96 & 7 8 9. 10
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