A Markov chain has the transition probability matrix 0.3 0.2 0.5 0.5 0.1 0.4 0.5 0.2 0.3 In the long run, what proportion of time is spent by the Markov chain in state 3?

Elementary Linear Algebra (MindTap Course List)
8th Edition
ISBN:9781305658004
Author:Ron Larson
Publisher:Ron Larson
Chapter2: Matrices
Section2.5: Markov Chain
Problem 47E: Explain how you can determine the steady state matrix X of an absorbing Markov chain by inspection.
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A Markov chain has the transition probability matrix
0.3 0.2 0.5
0.5 0.1 0.4
0.5 0.2 0.3
In the long run, what proportion of time is spent by the Markov chain in state 3?
Transcribed Image Text:A Markov chain has the transition probability matrix 0.3 0.2 0.5 0.5 0.1 0.4 0.5 0.2 0.3 In the long run, what proportion of time is spent by the Markov chain in state 3?
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