How many of the farm’s 5000 trees will be sold eventually, and howmany will be lost? 2. The KLM Christmas tree Farm owns a plot of land with 5000 evergreentrees. Each year KLM allows retailers of Christmas trees to select andcut trees for sale to individual customers. KLM protects small trees(Usually less than 4 feet tall) so that they will be available for sale infuture years. Currently, 1500 trees are classified as protected trees,while the remaining 3500 are available for cutting. However, eventhough a tree is available for cutting in a given year, it may not beselected for cutting until future years. Most trees not cut in a given yearlive until the next year, but some diseased trees are lost every year. Inviewing the KLM Christmas tree operation as a Markov process withyearly periods, we define the following four states:State 1. Cut and soldState 2. Lost to diseaseState 3. Too small for cuttingState 4. Available for cutting but not cut and soldThe following transition matrix is appropriate:[1.0 0.0 0.0 0.070.0 1.0 0.0 0.0P =0.1 0.2 0.5 0.20.4 0.1 0.0 0.5

Name: How many of the farm’s 5000 trees will be sold eventually, and howmany
Uploaded: 2024-03-05T11:52:21.000Z
Channel: Bartleby
Description: How many of the farm’s 5000 trees will be sold eventually, and howmany will be lost? 2. The KLM Christmas tree Farm owns a plot of land with 5000 evergreentrees. Each year KLM allows retailers of Christmas trees to select andcut trees for sale to ind