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ata collected from selected major metropolitan areas in the eastern United States show that 1% of individuals living within the city limits move to the
ata collected from selected major metropolitan areas in the eastern United States show that 1% of individuals living within the city limits move to the suburbs during a one-year period, while 2% of individuals living in the suburbs move to the city during a one-year period. Answer the following questions assuming that this process is modeled by a Markov process with two states: city and suburbs.
(a)
Prepare the matrix of transition probabilities.
City | Suburbs | |
---|---|---|
City | ||
Suburbs |
(b)
Compute the steady-state probabilities.
City 1=
Suburbs 2=
Need help with part A and B. thank you!!
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