You Are Given a Transition Matrix P $$P = \left[ \begin{array} { c c c } 0.4 & 0 & 0.6 \\1 & 0 & 0 \\0 & 0.4 & 0.6\end{array} \right]$$

question 36

Essay

You are given a transition matrix P. Find the steady-state distribution vector.
​ $$P = \left[ \begin{array} { c c c } 0.4 & 0 & 0.6 \\1 & 0 & 0 \\0 & 0.4 & 0.6\end{array} \right]$$

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Definitions:

Business Entity Assumption

An accounting principle that treats a business as separate from its owners or other businesses.

Business Entities

Business entities are legal structures through which business is conducted, such as sole proprietorships, partnerships, corporations, and limited liability companies.

Owners

Individuals or entities that hold legal rights and ownership of a company or property.

Measurement

The process of determining the size, length, or amount of something, typically using standard units.