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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- Q#6: Solve with detail but neat: A manufacturer of a firm claims that 70% of its new hires turn out to be good workers and the rest are to be poor workers. The company advised their current workers to qualify a reasoning test. Eighty percent of the good workers and forty percent of the poor workers pass the reasoning test. If the company makes the reasoning test be a part of its hiring procedure, what then is the probability of the new hires that; i. Will turn out to be good workers? Will turn out to be poor workers? ii. iii. Depict the turn out percentage of the workers on the Bayes' tree diagram.Sociologists say that 85% of married women claim that their husband's mother is the biggest bone of contention in their marriages (sex and money are lower-rated areas of contention). Suppose that six married women are having coffee together one morning. Find the following probabilities. (Round your answers to three decimal places.) (a) All of them dislike their mother-in-law. (b) None of them dislike their mother-in-law. (c) At least four of them dislike their mother-in-law. (d) No more than three of them dislike their mother-in-law.Sociologists say that 85% of married women claim that their husband's mother is the biggest bone of contention in their marriages (sex and money are lower-rated areas of contention). Suppose that ten married women are having coffee together one morning. Find the following probabilities. (Round your answers to three decimal places.) In USE SALT (a) All of them dislike their mother-in-law. (b) None of them dislike their mother-in-law. (c) At least eight of them dislike their mother-in-law. (d) No more than seven of them dislike their mother-in-law. 0.179
- solve a and b fastYou are enrolled in MBA 440. At the beginning of the semester, you used your hunch to estimate the likelihood of passing this class. Let P be the event of passing the class; F is the event of failing the class. Your prior probabilities are as follows: P(P)=0.7 P(F)=0.3 After the first week of class, you find out that you have failed the first assignment. Let A1 be the event of passing the first assignment; let A2 be the event of failing the first assignment. Now you feel you need to update your belief about the likelihood of passing this class. You talk to your Professor and she tells you that given someone has passed the class, the probability of passing the first assignment is 0.8, i.e. P(A1|P)=0.8. She also gives you the following conditional probabilities: P(A2|P)=0.2; P(A1|F)=0.3 and P(A2|F)=0.7. What is the posterior probability that you will pass this class given that you have failed the first assignment?Suppose an oil company is thinking of buying some land for $10,000,000. There is a 60%60% chance of economic growth and a 40%40% chance of recession. The probability of discovering oil is 44%44% when there is economic growth and 32%32% when there is a recession. If there is economic growth and the oil company discovers oil, the value of the land will triple. If they do not discover oil, the value of the land will decrease by 10%.10%. If there is a recession and the company discovers oil, the value of the land will increase by 50%.50%. If they do not discover oil, the land will decrease in value by 75%.75%. What is the expected value of the investment? Give your answer to the nearest dollar. Avoid rounding within calculations. $$ Select the correct interpretation of the expected value. The expected value represents what the actual investment value will be for this land purchase of $10,000,000. The company should make the investment because the expected value…
