Examlex

Solved

On Any Particular Day an Individual Can Take One of Two

question 34

Essay

On any particular day an individual can take one of two routes to work. Route A has a 25% chance of being congested, whereas route B has a 40% chance of being congested.
The probability of the individual taking a particular route depends on his previous day's experience. If one day he takes route A and it is not congested, he will take route A again the next day with probability .8. If it is congested, he will take route B the next day with probability .7.
On the other hand, if on a day he takes route B and it is not congested, he will take route B again the next day with probability .9. Similarly if route B is congested, he will take route A the next day with probability .6.
a.Construct the transition matrix for this problem. (HINT: There are 4 states corresponding to the route taken and the congestion. The transition probabilities are products of the independent probabilities of congestion and next day choice.)
b.What is the long-run proportion of time that route A is taken?


Definitions:

Business Strategy

A plan developed by an organization detailing how it will use its resources to achieve its goals and stand out in the market.

European Union Policies

Regulations and directives formulated by the European Union to manage and guide member states on a wide range of issues including trade, environment, immigration, and security.

Personal Privacy Protection

Measures or policies implemented to safeguard individuals' personal information from unauthorized access or misuse.

Internal Political

Activities within an organization that involve power and influence dynamics among employees or departments.

Related Questions