The alumni of State University generally contribute (C) or do not contribute (NC) according to the following pattern: 65% of thosewho contribute one year will contribute the next year; 15% of those who do not contribute one year will contribute the next. Thetransition matrix is the following:Next YearC NCc[0.65 0.35]Year NC 0.15 0.85 ]PresentUse this transition matrix to find the steady-state distribution of State University alumni who contribute and who do notcontribute. (Round your answers to one decimal place.)contribute%do not contribute%Need Help?Read It

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Answered: Use this transition matrix to find the…

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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Use this transition matrix to find the steady-state distribution of State University alumni who contribute and who do not contribute. (Round your answers to one decimal place.) contribute % do not contribute