Question: please answer clearly 1. Let us consider a discrete stochastic process. (Here, discrete means the time can be 1, 2, 3 ... (not continuous). The
please answer clearly
1. Let us consider a discrete stochastic process. (Here, discrete means the time can be 1, 2, 3 ... (not continuous). The state of the process (whatever that may be) can be j from i in one time unit with the probability of a . Let us consider this matrix, A=[a,). 0.9 0.11 A= 0.2 0.8) Here, i is the case that a person buys cola type i. a, is the probability that a person who bought cola i buy colaj on the next day. (az is the probability that a person who bought cola 1 to buys cola 2 on the next day.) Determine after how many days, the process becomes steady. (Hint: Calculate A, A', A', A5, A6, A', A,.... until all rows become identical. This says, whether we start from state 1 or 2, the probability distribution of the states (or preferences of a customer) become the same after some time irrespective of the startire condition.) (Tip: Use Excel function MMULT for matrix multiplication.)
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
