Using the given transition matrix and assuming that a Republican is certain to win the initial election,
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In a certain city the Democratic, Republican, and Consumer parties have members of their parties on the city council. The probability of a member of this party winning in any election depends on the proportional membership of his or her party at the time of the election. The probabilities for all these parties winning are given by the following transition matrix P.
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Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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