Table 15-3 Cuthbert Wylinghauser Is a Scheduler of Transportation for the State

question 25

Multiple Choice

Table 15-3
Cuthbert Wylinghauser is a scheduler of transportation for the state of Delirium. This state contains three cities: Chaos (C₁) , Frenzy (C₂) , and Tremor (C₃) . A transition matrix, indicating the probability that a resident in one city will travel to another, is given below. Cuthbert's job is to schedule the required number of seats, one to each person making the trip (transition) , on a daily basis.
C F T
Transition matrix: π(0) = [100, 100, 100]
-Using the data given in Table 15-3, how many seats should Cuthbert schedule for travel from Chaos to Tremor for tomorrow?

• A) 80
• B) 70
• C) 20
• D) 60
• E) None of the above

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Definitions:

Market Supply

The total amount of a product or service that is available for purchase at any given price level in a market.

Equilibrium Price of X

The market price at which the quantity of a commodity demanded equals the quantity supplied, specifically for commodity X.

Demand for X

The desire and ability of consumers to purchase a specific product or service, denoted as "X."

Supply of X

The total amount of a product "X" that sellers are willing and able to sell at possible prices, within a given time period.