Two people are working in a small office selling shares in a mutual fund. Each is either
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Two people are working in a small office selling shares in a mutual fund.
Each is either on the phone or not. Suppose that salesman i is on the phone for an exponential amount of time with rate i and then off the phone for an exponential amount of time with rate i .
(a) Formulate a Markov chain model for this system with state space f0; 1; 2; 12g where the state indicates who is on the phone.
(b) Find the stationary distribution.
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