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MachineMaintenance. Amachine can bein two states: "In adjustment "or "out of adjustment". Ifit is in adjustment, themachine earns revenue at therate of $200 per day. If the machine is out of adjustment at the start of a day, it is repairedat a cost of $100, which then places it in adjustment. Therepairtimerequires a full day, during which no revenue is earned. Thetransition matrixis given below. In adjustment Out of adjustment

MachineMaintenance. Amachine can bein two states: "In adjustment "or "out of adjustment". Ifit is in adjustment, themachine earns revenue at therate of $200 per day. If the machine is out of adjustment at the start of a day, it is repairedat a cost of $100, which then places it in adjustment. Therepairtimerequires a full day, during which no revenue is earned. Thetransition matrixis given below. In adjustment Out of adjustment

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 26EQ
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Machine Maintenance. A machinecan bein twostates: "In adjustment "or "out of adjustment". If it is in adjustment, themachine earns revenue at therate of $200 per day. If themachine is out of adjustment at the start of a day, it is repairedat a cost of $100, which then places it in adjustment. Therepairtimerequires a full day, during which no revenue is earned. Thetransition matrixisgiven below. In adjustment Out of adjustment In adjustment Out of adjustment a. What fraction of timein thelong run can themachine be expectedbe in adjustment? Out of adjustment? b. Computethe expectedlong-run daily revenue earnedby themachine. 0.70 0.30
Transcribed Image Text:Machine Maintenance. A machinecan bein twostates: "In adjustment "or "out of adjustment". If it is in adjustment, themachine earns revenue at therate of $200 per day. If themachine is out of adjustment at the start of a day, it is repairedat a cost of $100, which then places it in adjustment. Therepairtimerequires a full day, during which no revenue is earned. Thetransition matrixisgiven below. In adjustment Out of adjustment In adjustment Out of adjustment a. What fraction of timein thelong run can themachine be expectedbe in adjustment? Out of adjustment? b. Computethe expectedlong-run daily revenue earnedby themachine. 0.70 0.30
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