Mathematics, 09.10.2020 01:01 hoboethan
In Oak Hill, Florida, 90% of all sunny days are followed by sunny days while 80% of cloudy days are followed by cloudy days. A local hotdog vendor makes, on average, $300 on sunny days and $100 on cloudy days. Assume you want to build a Markov model that you can use to answer questions b., c., d., and e. below. a. Define the states of the system and give the one-step transition probability matrix. b. If today is sunny, what is the probability it is sunny 5 days from now
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