Question: A pure death process starting from X(0)= 3 has death parameters = 0, 1 = 3,42 = 2, and 3 = 5. Let W3

A pure death process starting from X(0)= 3 has death parameters =

A pure death process starting from X(0)= 3 has death parameters = 0, 1 = 3,42 = 2, and 3 = 5. Let W3 be the random time that it takes the process to reach state 0. (a) Write W3 as a sum of sojourn times and thereby deduce that the mean time is E[W3] = 31 30. (b) Determine the mean of W +W+W3. (c) What is the variance of W3?

Step by Step Solution

3.47 Rating (157 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

SOLUTION a We can write W3 as the sum of the sojourn times in states 3 2 1 and 0 Let T3 T2 T1 and T0 denote the sojourn times in these states respectively Then we have W3 T3 T2 T1 T0 Since this is a p... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!