Question
Consider a birth and death process with birth rates i= (1+i), i>=0, and death rates i =i, i>=0. a. Determine the expected time to go
Consider a birth and death process with birth rates i= (1+i), i>=0, and death rates i=i, i>=0.
a. Determine the expected time to go from state 0 to state4.
b. Determine the expected time to go from state 2 to state5.
c. Determine the variances in a and b.
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Mathematics for Economics and Business
Authors: Ian Jacques
9th edition
129219166X, 9781292191706 , 978-1292191669
