Determine Whether the Given Matrix Is Stochastic

question 122

Short Answer

Determine whether the given matrix is stochastic.
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Definitions:

Markup

The sum added to the purchase price of products to account for overhead costs and profit, setting the sales price.

Selling Price

The amount a customer pays to purchase a product or service.

Manufacturing Costs

The total expense incurred in the process of producing or manufacturing goods, including direct materials, direct labor, and manufacturing overhead.

Job Cost

The total expense of materials, labor, and overhead assigned to an individual job or project.