What is the steady-state probability of state 2?
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![[0.22 0.13 0.65]
T= 0.10 0.70 0.20
L000 0.82 0.18
What is the steady-state probability of state 2?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd13689b7-03fb-45fe-b23a-ae0bd5794a57%2Fb447adab-02b3-4a60-81cb-8418c2711f3c%2Fw8immme_processed.png&w=3840&q=75)
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- A person drives 40% of the time walks 25% of the time and rides the bus 35% of the time as he goes to work. He is late 2% of the time when he drives, he is late 10% if the time when he walks and he is late 6% of the time when he takes the bus. If the person is late for work one day what is possibility that he drove to work that day9 The table below respectively measures a consumer's satisfaction with food stores in a particular town (X) and the number of years of residence in that town (Y). Considering X=2 and Y=2, state whether the consumer satisfaction and time in residence are independent from each other or not. Probabilities for consumer satisfaction (X) and time in residence (Y) X Y 3 1 0.06 0.25 0.2 0.19 0.17 0.13 Independent Not independentAssume Kyle wants to pass three of his required classes before Fall 2023. His scholarship can cover maximum five more classes before Fall 2023. Assume his chance to pass any of the single classes is 1/3. What is the probability that he passes his last required class as the last class that can be covered through the scholarship? i.e., what is the probability that he achieves his third success at the fifth trial? NOTE: Please explain each part, so the problem can be used as a Study Guide
- A portfolio's value increases by 20% during a financial boom and by 7% during normal times. It decreases by 14% during a recession. What is the expected return on this portfolio if each scenario is equally likely?The probabilities of success and failure do not "______" from trial to trial.If the probability of a new employee in a fast-food chain still being with the company at the end of the year is 0.7, what is the probability that out of 8 newly hired people (A) 5 will still be with the company after 1 year? (B) 5 or more will still be with the company after 1 year? Round each of the calculations to three decimal places when going through the solution process.
- but isn't the expectation alpha times beta rather than alpha divided by beta?Keystone puts a lot of work into showcasing properties to potential buyers (something like a personal open house). Each showcase results in either a ‘success’ (the buyer purchases the property) or a ‘failure’ (the buyer refuses to buy the property). Historically, Keystone figures that on any given showcase there is a 12% chance they will be successful and make a sale. Keystone has 6 showcases planned for this month, and they would like to explore some probabilities surrounding these showcases to help them manage this process and forecast revenues. In particular, Keystone wants to see at least two of these showcases turn into sales. What are the chances that exactly 2 of the showcases will result in a sale? What are the chances that they will make at least 3 sales? What are the chances that they will make fewer than 2 sales? Sometimes buyers will request a second viewing of the property. Based on historical evidence, buyers ask for a second viewing on 50% of successful showcases…Miami Beach Medical Clinic (MBMC) has about 17.5 patients arriving per hour on average. MBMC serves about 20 patients per hour on average. Also, MBMC does NOT follow the traditional M/M/1 model. A patient arriving at this facility is expected to have one of the following wait times of (0 or 1 or 4 or 6 or 8 minutes) in the queue before being served. The probabilities associated with these wait times in the queue are 0.3, 0.2, 0.3, 0.1, and 0.1 respectively. The patient’s average wait time in queue is expected to be: a. 2.3 minutes b. 7.2 minutes c. 5.6 minutes d. 3.9 minutes e. 2.8 minutes
- #26). Please show how to solveA competition offers prize money for players reaching the final. If aplayer reaches the final, he/she will get 1000 dollars. If the player winsthe final and get the champion, another 1000 dollars are offered. Now aplayer has already reached the semi-final, what’s the expectation of prizemoney he would have after the competition?Answers must be in 4 decimals 1. Bulsu plans to enforce speed limits using radar traps at 4 different locations within the campus. The radar traps at each of the locations L1, L2, L3, and L4 are operated 40%, 30%, 30%, and 20% of the time, and a person who is speeding on his way to work has probabilities of 0.2, 0.1, 0.5, and 0.2, respectively, of passing through these locations. If the person received a speeding ticket on his way to work, what is the probability that he passed through the radar trap located at L2? 2. A drug for the relief of asthma can be purchased from 5 different manufacturers in liquid, tablet, or capsule form, all of which come in regular and extra strength. How many different ways can a doctor prescribe the drug for a patient suffering from asthma?
