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The same scenario is used for the remainder of the questions A psychiatrist clinic classifies its accounts receivable into the following four states State 1
The same scenario is used for the remainder of the questions A psychiatrist clinic classifies its accounts receivable into the following four states State Paid State Bad debt State days State days The clinic currently has $ accounts receivable in the days state and $ in the days state. Based on historical transition from week to week of accounts receivable, the following matrix of transition probabilities has been developed for the clinic P
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