The PSTAT Department at UCSB has developed a Markov model to simulate graduation rates in their programs. Students might drop ou
t, repeat a year, or move on to the next year until they graduate. Students have a 3% chance of repeating their current year. First-years and sophomores have a 6% chance of dropping out. For juniors and seniors, the drop-out rate is 4%. Provide the state space S and the transition probability matrix for this Markov chain. Also draw the associated transition graph.
1 answer:
Answer:
State space
Transition probability matrix
The transition graph is attached.
Step-by-step explanation:
The state space for this Markov chain is all the possible states that the variable can take.
In this case the student can be: Freshman, Sophomore, Junior, Senior, Graduate and Drop out
The transition probability matrix for this state space is:
The transition graph is attached.
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Step-by-step explanation:
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m = =
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