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A psychiatrist clinic classifies its accounts receivable into the following four states State 1 . Paid State 2 . Bad debt State 3 . 0
A psychiatrist clinic classifies its accounts receivable into the following four states
State Paid
State Bad debt
State days
State days
The clinic currently has $ accounts receivable in the days state and $ in the days state. Based on historical transition from week to week of accounts receivable, the following matrix of transition probabilities has been developed for the clinic
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