Question: Markov Chain: A machine is used to produce precision tools. If the machine is in good condition today, then 90% of the time, it will

Markov Chain:

  • A machine is used to produce precision tools. If the machine is in good condition today, then 90% of the time, it will be in good condition tomorrow. If the machine is in bad condition today, then 80% of the time, it will be in bad condition tomorrow. If the machine is in good condition, it produces 100 tools per day. If the machine is in bad condition, it produces 60 tools per day. On average, how many tools per day are produced? Please provide an answer rounded to two decimal places.

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