answer using markov systems. Real Cheap Car Rental Agency operates agencies in two cities, city 1 andcity 2. The fractions of the number of cars rented in one city and returnedin the same city or to the other city are given in the following transitionmatrix:City at whichCar is returned21City at which car is rented ! [0.65 0.35]2 l0.60 0.401What is the probability that a car rented will be returned to each cityafter one day? In two days? In three days?

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Answered: Real Cheap Car Rental Agency operates…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Please solve completely part a-c
Briefly explain stochastic ordering (don’t example types)
Stationary Matrix Consider an example where a company initially has a 10% market share. Using an advertising campaign, the probability of a customer will use and stick to the company brand is 80%. On the other hand, the probability of a customers that uses the other Brand is 40%. • Question: If the probabilities remain valid over a long period of time, What happens to the companies market share?
Stationary Matrix Consider an example where a company initially has a 10% market share. Using an advertising campaign, the probability of a customer will use and stick to the company brand is 80%. On the other hand, the probability of a customers that uses the other Brand is 40%. • Question: If the probabilities remain valid over a long period of time, What happens to the companies market share?
solve using Markov Chain
Given data points (2,-1), (2, 1), (3,2), (0,-1), and (3,-1), compute the sample covariance matrix. Record the entries of covariance matrix row by row as decimal numbers, separated by commas.
TOPIC: MARKOV CHAINSThe time variation from one day to the next is assumed to form a Markov chain, with the transition matrixfollowing:[table]Given that today Sunday is cloudy, what is the probability that Wednesday will be sunny?
sub= 24
#Markov #Matrix #matrix The weather in Columbus is either good, indifferent or bad on any given day. If the weather is good today, there is a 60% chance the weather will be good tomorrow, a 30% chance the weather will be indifferent, and a 10% chance the weather will be bad. If the weather is indifferent today, there will be 40% chance of being good and 30% chance of being indifferent tomorrow. Finally if the weather is bad today, there will be 40% chance of being good and 50% chance of being indifferent tomorrow. Write down the Markov matrix for this situation?
Modeling mathematics Please only choose
Stationary Matrix Consider an example where a company initially has a 10% market share. Using an advertising campaign, the probability of a customer will use and stick to the company brand is 80%. On the other hand, the probability of a customers that uses the other Brand is 40%. • Question: If the probabilities remain valid over a long period of time, What happens to the companies market share?

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