Table 14-6 The Following Data Consists of a Matrix of Transition Probabilities

question 40

Multiple Choice

Table 14-6
The following data consists of a matrix of transition probabilities (P) of four majors in the College of Business, and the initial proportion of students in each major π(0) .Assume that each state represents a major and the transition probabilities represent changes from one major to the next after taking the introductory class in each discipline.
P =

π(0) = (.4, .3, .2, .1)
-Using the data in Table 14-6, which major will end up with the greatest proportion of students?

• A)Major 1
• B)Major 2
• C)Major 3
• D)Major 4

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Definitions:

Producing

The act of creating, manufacturing, or generating goods and services that can be offered in a market.

Sells

Engages in the act of offering goods or services in exchange for money or other compensation; a rephrased definition of 'Sellers.'

Highest Amount

The maximum quantity or degree of something that is recorded, attained, or allowed.

Consumer

An individual who purchases goods or services for personal use.