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T company computer department purchases a new computer every two years with preferences for three models; T1, T2 and T3. If the present model is T1, the next computer may be T2 with probability 0.2 or T3 with probability 0.15. If the present model is T2, the probabilities of switching to T1 and T3 are 0.6 and 0.25 respectively. And if present model is T3 then, the probabilities of switching to T1 and T2 are 0.5 and 0.1 respectively. Represent the situation as a Markov chain

T company computer department purchases a new computer every two years with preferences for three models; T1, T2 and T3. If the present model is T1, the next computer may be T2 with probability 0.2 or T3 with probability 0.15. If the present model is T2, the probabilities of switching to T1 and T3 are 0.6 and 0.25 respectively. And if present model is T3 then, the probabilities of switching to T1 and T2 are 0.5 and 0.1 respectively. Represent the situation as a Markov chain

Elementary Linear Algebra (MindTap Course List)
Elementary Linear Algebra (MindTap Course List)
8th Edition
ISBN:9781305658004
Author:Ron Larson
Publisher:Ron Larson
Chapter2: Matrices
Section2.5: Markov Chain
Problem 16E: Consumer Preference In a population of 100,000 consumers, there are 20,000 users of Brand A, 30,000...
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T company computer department purchases a new computer every two years with preferences for three models; T1, T2 and T3. If the present model is T1, the next computer may be T2 with probability 0.2 or T3 with probability 0.15. If the present model is T2, the probabilities of switching to T1 and T3 are 0.6 and 0.25 respectively. And if present model is T3 then, the probabilities of switching to T1 and T2 are 0.5 and 0.1 respectively.

Represent the situation as a Markov chain

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