The KLM Christmas tree Farm owns a plot of land with 5000 evergreen trees. Each year KLM allows retailers of Christmas trees to select and cut trees for sale to individual customers. KLM protects small trees (usually less than 4 feet tall) so that they will be available for sale in future years. Currently, 1500 trees are classified as protected trees, while the remaining 3500 are available for cutting. However, even though a tree is available for cutting in a given year, it may not be selected for cutting until future years. Most trees not cut in a given year live until the next year, but some diseased trees are lost every year. In viewing the KLM Christmas tree operation as a Markov process with yearly periods, we define the following four states:
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
The KLM Christmas tree Farm owns a plot of land with 5000 evergreen trees.
Each year KLM allows retailers of Christmas trees to select and cut trees for sale to individual
customers. KLM protects small trees (usually less than 4 feet tall) so that they will be available
for sale in future years. Currently, 1500 trees are classified as protected trees, while the
remaining 3500 are available for cutting. However, even though a tree is available for cutting
in a given year, it may not be selected for cutting until future years. Most trees not cut in a
given year live until the next year, but some diseased trees are lost every year. In viewing the KLM Christmas tree operation as a Markov process with yearly periods, we define the
following four states:
![State 1. Cut and sold
State 2. Lost to disease
State 3. Too small for cutting
State 4. Available for cutting but not cut and sold
The following transition matrix is appropriate:
[1.0 0.0 0.0 0.0
0.0 1.0 0.0 0.0
P =
0.1 0.2 0.5 0.2
L0.4 0.1 0.0 0.5]
How many of the farm's 5000 trees will be sold eventually, and how many will be lost?
RSITY](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8a791b44-0438-4477-8cff-a84bbceaf9c7%2F2dd51c8d-4d5d-4e66-92a6-cfb34756e28e%2Fhi9x1q_processed.png&w=3840&q=75)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
