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4. The common stock of DankaShane, Inc. is traded in the stock market. The CFO of the company buys and sells stock in his own company so that it never ends up going above $9 or below $3. For simplicity, assume that the stock value only takes integer values. Assume that the following daily changes in the stock price can occur: Stock goes up $2 with probability 0.15 Stock goes up $1 with probability 0.25 Stock stays the same with probability 0.30 Stock goes down $1 with probability 0.20 Mock goen down $2 with probability 0.10 (8) Describe a Markov Chain model for the stock price. That is, specify the stochastic process X.. the time index , the state space, and the transition probability matrix (b) Investment analysts believe that if the stock hits $8 or $9, then investors will panic and begin selling off the stock in large quantities. In the current stock price to show likely in it that this will occur in the next 3 days? (c) What is the expected time until the next "panie" occurs (also assume we start at price $5) (d) In the long run, what is the average price of the stock? 4. The common stock of DankaShane, Inc. is traded in the stock market. The CFO of the company buys and sells stock in his own company so that it never ends up going above $9 or below $3. For simplicity, assume that the stock value only takes integer values. Assume that the following daily changes in the stock price can occur: Stock goes up $2 with probability 0.15 Stock goes up $1 with probability 0.25 Stock stays the same with probability 0.30 Stock goes down $1 with probability 0.20 Mock goen down $2 with probability 0.10 (8) Describe a Markov Chain model for the stock price. That is, specify the stochastic process X.. the time index , the state space, and the transition probability matrix (b) Investment analysts believe that if the stock hits $8 or $9, then investors will panic and begin selling off the stock in large quantities. In the current stock price to show likely in it that this will occur in the next 3 days? (c) What is the expected time until the next "panie" occurs (also assume we start at price $5) (d) In the long run, what is the average price of the stock