In Problems 21-26, use the transition matrix
to find
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- Oc. O D. The given matrix A not a transition matrix, so there is no diagram. Barrow_forward3. A study has determined that the occupation of a boy, as an adult, depends upon the occupation of his father and is given by the following transition matrix where P= professional, F= farmer and L= laborer Father's Occupation P F L 0.80 0.30 0.20 0.10 0.50 0.20 0.10 0.20 0.60 P Son's F Occupationarrow_forward6. Consider the following game with three players: Player 1 first chooses between T and B. Then, after observing player 1's choice, Players 2 and 3 choose simultaneously between L and R. The two matrices below contain the payoffs associated with each combination of actions by the three players. Specifically, the left-hand side matrix contains the payoffs for each combination of actions by players 2 and 3 when player 1 chooses T; and the right-hand side matrix contains the payoffs for each combination of actions by players 2 and 3 when player 1 chooses B. Each cell of the matrices has a format (a, b, c), where a is the payoff of player 1; b is the payoff of player 2; and c the payoff of player 3. For example, if player 1 initially chooses T and players 2 and 3 choose L and L, then the payoff for player 1 is 3, the payoff for player 2 is 1 and the payoff for player 3 is 1. In this setting, which of the following is true? Player 2 L Player 3 L Ꭱ 3, 1, 1 2, 5, 0 R 3, 0, 5 2, 3, 3 (When…arrow_forward
- Can someone please help me with these questions. I am having so much trouble. The pictures had to be split.arrow_forwardA risk threshold indicates: O a. Risks below the threshold can be removed from the matrix as they should be of no concern. O b. Risks above the threshold fall within the organization's level of risk tolerance. Oc. The risks that fall highest in relation to the threshold should be considered first. d. All of the above Clear my choicearrow_forward*Use the following scenario for questions 5-8. Jennie and her friends go off campus everyday for lunch; they choose between three restaurants each day to go to: Cook-out, McDonald's, and Taco Bell. They never go to the same restaurant two days in a row. Below is the given transition matrix: LA 23 yesterday? A. 0.50 24 Monday? A. 0.00 25 A. 0.31 26 W www PROCURA A. Taco Bell B. 0.40 B. What is the probability that Jennie and her friends choose to go to Cook-out when they went to McDonald's 0.27 CMT COSA B. 0.32 C. 0.60 What is the probability that Jennie and her friends will go to Taco Bell on Thursday after they went to Taco Bell on B. Cook-out CMT 0.3 7 C. 0.58 .5 0.5 0 4 C. 0.37 In the long run, what percentage of the time does Jennie and her friends visit McDonald's? D. 0.30 Which restaurant does Jennie and friends frequent the most? C. McDonald's D. 0.42 D. 0.90 D. None of these restaurants Sign ouarrow_forward
- Consider the transition matrix given below: A B C 4 2 4 01 0 8 0 2 Answer the following questions in the space provided: a. What is the meaning of entry "8"? b. Is this transition matrix regular, absorbing, or neither? Explain. c. If 70% of a population is initially in "A", 20% in "B" and 10% in "C", what is the distribution 3 "steps" later? Give your answers as decimals rounded to three decimal places of percentages to one decimal place. For this part, show the matrix operations in your written work (do the operations on your calculator, but show what you are putting into the calculator). e B I U Ꭶ T 트로 :E 1 E E X₂ X Insert Formulaarrow_forwardA car rental service in a certain town has a fleet of about 600 cars, at three locations. A car rented at one location may be returned to any of the three locations. The various fractions of cars returned to the three locations are shown in the matrix to the right. Suppose that on Monday there are 295 cars at the airport (or rented from there), 65 cars at the east side office, and 240 cars at the west side office. What will be the approximate distribution of cars on Wednesday? Cars Rented From: Airport East West 0.95 0.03 0.12 0.00 0.94 0.06 0.05 0.03 0.82 Returned To: Airport East West On Wednesday, 274 cars will be at the airport, 52 cars will be at the East location, and 274 cars will be at the West location. (Round to the nearest integer as needed.)arrow_forward10. Please helparrow_forward
- 2.2.5. A simple Usher model of a certain organism tracks immature and (.2 3 mature classes, and is given by the matrix P .3 .5 a. On average, how many births are attributed to each adult in a time step? b. What percentage of adults die in each time step? c. Assuming no immature individuals are able to reproduce in a time step, what is the meaning of the upper left entry in P? d. What is the meaning of the lower left entry in P?arrow_forwardFrom data collected by the Association of Realtors of a certain city, the following tran- sition matrix was obtained. The matrix describes the buying pattern of home buyers who buy single-family homes (S) or condominiums (C). Current State S C S .85 .35 Next State .15 .65 Currently, 80% of the homeowners live in single-family homes, whereas 20% live in condominiums. If this trend continues, what will be the percent of homeowners in this city who will own single-family homes and condominiums 2 years from now? In the long run?arrow_forwardIn the Heidman’s Department Store problem of Unit 2 of this module, suppose that the following transition matrix is appropriate:If Heidman’s has $4000 in the 0–30-day category and $5000 in the 31–90-day category what is your estimate of the amount of bad debts the company will experience?arrow_forward
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