If the initial distribution probabilities of families in a certain population are [0.7 0.2 0.1], find the

Question:

If the initial probabilities of families in a certain population are [0.7 0.2 0.1], find the for the next three generations.
Suppose people in a certain community are classified as being low-income (L), middle-income (M), or high-income (H). Suppose further that the probabilities for children being in a given state depend on which state their parents were in, according to the following Markov chain transition matrix.

Income level Income level of children of parents м н 0.15 0.6 0.25 0.15 0.35 0.5 Н 0.2 0.8

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...