Four apples and four oranges are distributed between two boxes in such a way that each of them has four fruits. At each step, we withdraw one fruit from each box and exchange them. Let Xn be the number of apples in the first box. Give the transition probability matrix for Xn. Find long run proportion which is to find Pi1,Pi2,Pi3,Pi4.

Four apples and four oranges are distributed between two boxes in such a way that each of them has four fruits. At each step, we withdraw one fruit from each box and exchange them. Let Xn be the number of apples in the first box. Give the transition probability matrix for Xn. Find long run proportion which is to find Pi1,Pi2,Pi3,Pi4.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter7: Uncertainty

Section: Chapter Questions

Problem 7.1P

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