The Day-by-Day car rental agency rents cars only on a daily basis. Rented cars can be returned
Question:
Figure 4
(a) Set up the stochastic matrix that displays these transitions.
(b) Use the matrix from part (a) to estimate the percentage of the cars at location A after one day. After two days.
(c) In the long run, what fraction of the cars will be at each location?
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Related Book For
Finite Mathematics and Its Applications
ISBN: 978-0134768632
12th edition
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
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