Rose’s Ringlets, a national hair salon, pays the following in employee benefits each pay period: $700 for health care, 10% of gr
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Answer:
The steady state proportion for the U (uninvolved) fraction is 0.4.
Step-by-step explanation:
This can be modeled as a Markov chain, with two states:
U: uninvolved
M: matched
The transitions probability matrix is:
The steady state is that satisfies this product of matrixs:
being π the matrix of steady-state proportions and P the transition matrix.
If we multiply, we have:
Now we have to solve this equations
We choose one of the equations and solve:
Then, the steady state proportion for the U (uninvolved) fraction is 0.4.