Henry, a Persistent Salesman, Calls North's Hardware Store Once a Week

question 27

Essay

Henry, a persistent salesman, calls North's Hardware Store once a week hoping to speak with the store's buying agent, Shirley. If Shirley does not accept Henry's call this week, the probability she will do the same next week is .35. On the other hand, if she accepts Henry's call this week, the probability she will not do so next week is .20.
a.Construct the transition matrix for this problem.
b.How many times per year can Henry expect to talk to Shirley?
c.What is the probability Shirley will accept Henry's next two calls if she does not accept his call this week?
d.What is the probability of Shirley accepting exactly one of Henry's next two calls if she accepts his call this week?

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Definitions:

Nonrenewable Resource

A resource that cannot be replenished at the same rate at which it is consumed, such as fossil fuels.

Human Capital

The economic value of the skills, experience, and qualifications of an individual worker or group of workers.

Seed Drill

An agricultural tool that sows the seeds for crops by positioning them in the soil and burying them to the correct depth, ensuring that seeds are distributed evenly and at optimal depths.

Experience

The knowledge or mastery of an event or subject gained through involvement in or exposure to it.