Consider the transition matrices for the markov chains

. The following bivariate data shows revenue of several car rental companies in a year versus the umber of their rental cars, Number of cars in ten thousands, r 63.0 29.0 20.8 19.1 13.4 8.5 Annual revenue in millions of dollars, y 7.0 3.9 2.1 2.8 1.4 1.5 with I = 25.633, y = 3.117, $, = 19.5799, and s, = 2.1160. Calculate the correlation coefficient, r, between r and y. Is there a linear correlation between r and y? Why? Show your work and explain your answer.2. Quiz question For each of the following transition matrices for Markov chains with state space S = {1,2), write down the Full Balance Equations and find the equilibrium distribution(s). (a) p = (0.4 0.6) 0.8 0.2 (b) P = (0.82 0.18 0.82 0.18\f