Trust Bank was opened across the street from the Bank of Texas (BoT) last year. They know that they have competition from the BoT in terms of market share. After doing some basic research on the habits of their customers, they found that if a customer banked at Trust in a given month, the probability of the customer returning to Trust in the following month is 0.75 and the probability that the customer banks at BoT in the following month is 0.25. However, if a customer banks at BoT in a given month, the probability of the customer returning to BoT in the following month is 0.87 and the customer going to Trust in the following month is 0.13. Suppose that they want to consider the Markov process associated with the monthly banking habits of one customer, but they do not know where the customer banked in the previous month. Thus, they assume a 50% probability that the customer banked at Truist or BeT (that is to say, T:(0) = 0.5 and n:(0) = 0.5). Given these initial state probabilities, answer the following questions: 1.The probability that the customer banks at Trust Bank in Month 2 =| 2. The probability that the customer banks at BoT in Month 6 =| (Four decimal places) |(Four decimal places)
Trust Bank was opened across the street from the Bank of Texas (BoT) last year. They know that they have competition from the BoT in terms of market share. After doing some basic research on the habits of their customers, they found that if a customer banked at Trust in a given month, the probability of the customer returning to Trust in the following month is 0.75 and the probability that the customer banks at BoT in the following month is 0.25. However, if a customer banks at BoT in a given month, the probability of the customer returning to BoT in the following month is 0.87 and the customer going to Trust in the following month is 0.13. Suppose that they want to consider the Markov process associated with the monthly banking habits of one customer, but they do not know where the customer banked in the previous month. Thus, they assume a 50% probability that the customer banked at Truist or BeT (that is to say, T:(0) = 0.5 and n:(0) = 0.5). Given these initial state probabilities, answer the following questions: 1.The probability that the customer banks at Trust Bank in Month 2 =| 2. The probability that the customer banks at BoT in Month 6 =| (Four decimal places) |(Four decimal places)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:Trust Bank was opened across the street from the Bank of Texas (BoT) last year. They know that they
have competition from the BoT in terms of market share. After doing some basic research on the habits of
their customers, they found that if a customer banked at Trust in a given month, the probability of the
customer returning to Trust in the following month is 0.75 and the probability that the customer banks at
BoT in the following month is 0.25. However, if a customer banks at BoT in a given month, the probability
of the customer returning to BoT in the following month is 0.87 and the customer going to Trust in the
following month is 0.13. Suppose that they want to consider the Markov process associated with the
monthly banking habits of one customer, but they do not know where the customer banked in the
previous month. Thus, they assume a 50% probability that the customer banked at Truist or BeT (that is to
say, T:(0) = 0.5 and n:(0) = 0.5). Given these initial state probabilities, answer the following questions:
1.The probability that the customer banks at Trust Bank in Month 2 =|
(Four decimal places)
2. The probability that the customer banks at BoT in Month 6 =
(Four decimal places)
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