Table 14-3
The following data consists of a matrix of transition probabilities (P)of three office locations (A,B,C)within a large company and how employees shift from one location to the other from year to year.The company CEO would like to understand the movement of employees over time and the long-run proportion of employees in each location.Assume that there is always a total of 3000 employees.
A B C
P = π(0)= [1000, 1000, 1000)
-Using the data given in Table 14-3, what is the long run number of employees expected in location C?
A)1400
B)1000
C)800
D)750

Question

Table 14-3
The following data consists of a matrix of transition probabilities (P)of three office locations (A,B,C)within a large company and how employees shift from one location to the other from year to year.The company CEO would like to understand the movement of employees over time and the long-run proportion of employees in each location.Assume that there is always a total of 3000 employees.
A B C
P =   π(0)= [1000, 1000, 1000)
-Using the data given in Table 14-3, what is the long run number of employees expected in location C?
A)1400 
B)1000 
C)800 
D)750

Quizplus · Accepted Answer

The Answer of Table 14-3
The following data consists of a matrix of transition probabilities (P)of three office locations (A,B,C)within a large company and how employees shift from one location to the other from year to year.The company CEO would like to understand the movement of employees over time and the long-run proportion of employees in each location.Assume that there is always a total of 3000 employees.
A B C
P =   π(0)= [1000, 1000, 1000)
-Using the data given in Table 14-3, what is the long run number of employees expected in location C?
A)1400 
B)1000 
C)800 
D)750

Table 14-3 The Following Data Consists of a Matrix of Transition Probabilities