Set us the matrix of transition probabilities and show the transition b. Find the steady state probabilities c. In the long run, which restaurant will have the most customer
Suppose in a small town there are three places to eat, a Chinese
restaurant, a Mexican restaurant, and a pizza place. Everyone in town eats dinner
in one of these places or has dinner at home. Assume that 20% of those who eat in
the Chinese restaurant go to Mexican next time, 20% eat home and 30% go to the
pizza place. From those who eat in the Mexican restaurant, 10% go to the pizza
place, 25% go to the Chinese restaurant, and 25% eats at home next time. From
those who eat at the pizza place, 30% eat at home, 30% eat at the Chinese
restaurant, and 10% eat at the Mexican restaurant next time. Those who eat at
home, 20% go to the Chinese restaurant, 25% go to Mexican restaurant, and 30% to
the pizza place.
a. Set us the matrix of transition probabilities and show the transition
b. Find the steady state probabilities
c. In the long run, which restaurant will have the most customer
Step by step
Solved in 3 steps with 3 images
