Only C, Please!

craftsman never produces a carpet that is identical to any that are still in the shop unsold. selection also increases the chances of selling carpets. Past experience shows that if only Question III: 35 points A local craft shop selling wall carpets to tourists can produce one carpet per day. The For this reason, the choice of carpets increases with the number of unsold carpets, and the one carpet is on hand, chances are 1 out of 3 that the carpet will be sold. If two carpets are available, chances are that at least one is sold, and that both are sold. For three carpets, chances are that at least one is sold, } that at least two are sold, and that all three are sold. If at the beginning of the day three carpets remain unsold, the craftsman takes a day off; i.e., he does not make a carpet that day, but just tries to sell. a) Define the states of the process and find the associate transition probabilities and corresponding matrix P. b) Find the stationary transition probabilities Ti, Vi ES. c) What is the average inventory level of carpets at the end of a day? d) If each carpet brings in $400 net, what is the average daily profit? craftsman never produces a carpet that is identical to any that are still in the shop unsold. selection also increases the chances of selling carpets. Past experience shows that if only Question III: 35 points A local craft shop selling wall carpets to tourists can produce one carpet per day. The For this reason, the choice of carpets increases with the number of unsold carpets, and the one carpet is on hand, chances are 1 out of 3 that the carpet will be sold. If two carpets are available, chances are that at least one is sold, and that both are sold. For three carpets, chances are that at least one is sold, } that at least two are sold, and that all three are sold. If at the beginning of the day three carpets remain unsold, the craftsman takes a day off; i.e., he does not make a carpet that day, but just tries to sell. a) Define the states of the process and find the associate transition probabilities and corresponding matrix P. b) Find the stationary transition probabilities Ti, Vi ES. c) What is the average inventory level of carpets at the end of a day? d) If each carpet brings in $400 net, what is the average daily profit