Each year, employees at a company are given the option of donating to a local charity as part of a payroll deduction plan. In general, 80 percent of the employees enrolled in the plan in any one year will choose to sign up again the following year, and 30 percent of the unenrolled will choose to enroll the following year. Determine the transition matrix for the Markov process and find the steadystate vector. What percentage of employees would you expect to find enrolled in the program in the long run?

Each year, employees at a company are given the option of donating to a local charity as part of a payroll deduction plan. In general, 80 percent of the employees enrolled in the plan in any one year will choose to sign up again the following year, and 30 percent of the unenrolled will choose to enroll the following year. Determine the transition matrix for the Markov process and find the steadystate vector. What percentage of employees would you expect to find enrolled in the program in the long run?

Elementary Linear Algebra (MindTap Course List)

8th Edition

ISBN:9781305658004

Author:Ron Larson

Publisher:Ron Larson

Chapter2: Matrices

Section2.5: Markov Chain

Problem 55E

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