Q17. Suppose M is a stochastic matrix representing the probabilities of transitions each month. Compute the matrix of compounded transition probabilities for 3 months into the future, or M³. (Note, prior to multiplying matrices, the given components of M must be used to fill in the missing components [**] such that M is a stochastic matrix.) M: = 0.55 ** ** 0.90 What is m22 in the matrix M³? (Round to 3 decimal places.)

Elementary Linear Algebra (MindTap Course List)
8th Edition
ISBN:9781305658004
Author:Ron Larson
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Chapter2: Matrices
Section2.5: Markov Chain
Problem 34E
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Q17. Suppose M is a stochastic matrix representing the probabilities of transitions
each month. Compute the matrix of compounded transition probabilities for 3
months into the future, or M³. (Note, prior to multiplying matrices, the given
components of M must be used to fill in the missing components [**] such that M is
a stochastic matrix.)
M
=
0.55
**
**
0.90
What is m22 in the matrix M³? (Round to 3 decimal places.)
Transcribed Image Text:Q17. Suppose M is a stochastic matrix representing the probabilities of transitions each month. Compute the matrix of compounded transition probabilities for 3 months into the future, or M³. (Note, prior to multiplying matrices, the given components of M must be used to fill in the missing components [**] such that M is a stochastic matrix.) M = 0.55 ** ** 0.90 What is m22 in the matrix M³? (Round to 3 decimal places.)
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