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Katie C.

asked • 11/18/15

markov chains

(i) If volume is high this week, then next week it will be high with a probability of 0.9 and low with a probability of 0.1.
(ii) If volume is low this week then it will be high next week with a probability of 0.3.

Assume that state 1 is high volume and that state 2 is low volume.

(1) Find the transition matrix for this Markov process.
 
(2) If the volume this week is high, what is the probability that the volume will be high two weeks from now?
 
(3) What is the probability that volume will be high for three consecutive weeks?

1 Expert Answer

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Katie C.

Thank you!! but when i plugged 0.6075 into my homework it said it was wrong
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11/18/15

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