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1, A supplier park is formed when a number of suppliers of a large firm are located in the immediate vicinity of the firm.Outline the advantages and disadvantages of a "supplier park"to both the company and the supplier.

The following diagram represents a four-state Markov model. State 1 State 2 Healthy Temporarily sick or disabled State 3 Permanently sick or disabled State 4 Dead The force of transition from state / to state / (i * /) at age x is denoted by zy , and the probability that a life, who is in state i when aged x, will be in state / at age x + is + PY . (i) Derive from first principles a differential equation for Pr , stating all assumptions made. [5] (ii) Given that, for x = 40,41 : 1 PY = 0.03, 1 PY = 0.002, 1 PY = p!# = 0.001, 1p? = 0.4, 1 p? =0.1, 1p,* =0.01 and 1/, =0.3, calculate 2 P40. [2]