Question: Can you please solve this question quickly? 3. A forest consists of two types of trees: short (those that are 05ft ) and tall (those

 Can you please solve this question quickly? 3. A forest consists

Can you please solve this question quickly?

3. A forest consists of two types of trees: short (those that are 05ft ) and tall (those that are taller than 5ft.) Each year, 40% of all 0-5 ft tall trees die, 10% are sold for $20 each, 30% stay between 0 and 5ft, and 20% grow to be more than 5ft. Each year, 50% of all trees taller than 5ft are sold for $50,20% are sold for $30, and 30% remain in the forest. (a) Express the situation as a Markov chain. (b) On average how many years does it take for short trees to be sold $50 ? (c) What percent of the trees die and what percent are sold? (d) If the forest has 100 short trees, what is the yearly expected revenue of the forest

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