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Suppose that a Markov chain has transition probability matrix 1 1(1/2 1/2 2 1/4 3/4 P (a) What is the long-run proportion of time

Suppose that a Markov chain has transition probability matrix 1 1(1/2 1/2 2 1/4 3/4 P (a) What is the long-run proportion of time that the chain is in state i, i = 1, 2 ? 5. What should r2 be if it is desired to have the long-run average (b) Suppose that ri reward per unit time equal to 9?

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