# Data collected from selected major metropolitan areas in the eastern United States show that 2% of individuals

## Question:

a. Prepare the matrix of transition probabilities.

b. Compute the steady-state probabilities.

c. In a particular metropolitan area, 40% of the population lives in the city, and 60% of the population lives in the suburbs. What population changes do your steady-state probabilities project for this metropolitan area?

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**Related Book For**

## Quantitative Methods For Business

**ISBN:** 148

11th Edition

**Authors:** David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Cam