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Consider a Markov chain {Xn, n = 0, 1, . .. } on the state space S = {0, 1, 2}. Suppose that the Markov chain has the transition matrix 0 P = 1 0 0 NIH 1. Show that the state space is irreducible. 2. Show that the Markov chain is periodic. Find the period of the Markov chain. 3. Let h denote a stationary mass of the Markov chain. Find h(x) for all x E S.A professor records the majors of her 30 students as follows: Accounting Economics Undecided Finance Management Management Finance Marketing Economics Management Marketing Finance Marketing Accounting Finance Finance Undecided Management Undecided Economics Economics Accounting Management Undecided Economics Accounting Economics Management Accounting Economics Click here for the Excel Data File o. What is the measurement scale of these data? O Interval O Ordinal ONominal RatioMatch the assumptions to the theory Hold and drag to reorder Keynesian Sticky wages Economics Say's Law =Classical Economics F. A. Hayek Classical Economics Laissez Faire Policy E Classical Economics Recessionary Gap and Keynesian Long Run Equilibrium Economics