Solved

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

Question 30

Multiple Choice

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 = 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] <sub> </sub><sub> </sub> -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 E) 700 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] <sub> </sub><sub> </sub> -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 E) 700 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
E) 700

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q8: In Markov analysis, the transition probability Pij

Q26: There is a 60% chance that a

Q26: A certain firm has noticed that employees'

Q28: In the matrix of transition probabilities, P<sub>ij</sub>

Q29: In the long run,in Markov analysis,<br>A)all state

Q33: Table 14-3<br>The following data consists of a

Q34: If in an absorbing state,the probability of

Q35: The initial values for the state probabilities<br>A)are

Q79: When absorbing states exist, the fundamental matrix

Q85: Equilibrium state probabilities may be estimated by