An individual possesses r umbrellas that he employs in going from his home to office, and...

An individual possesses r umbrellas that he employs in going from his home to office, and vice versa. If he is at home (the office) at the beginning (end) of a day and it is raining, then he will take an umbrella with him to the office (home), provided there is one to be

taken. If it is not raining, then he never takes an umbrella. Assume that, independent of the past, it rains at the beginning (end) of a day with probability p.

(a) Define a Markov chain to model the number of umbrellas for each trip.

(b) Determine the proportion of time that there is no available umbrella to be taken for the trip.

Solutions

Expert Solution

milcah answered 5 months ago

Next > < Previous

Related Solutions

An individual possesses 5 umbrellas which he employs in going from his home to the office,...

An individual possesses 5 umbrellas which he employs in going from his home to the office, and vice versa. If he is at home at the beginning of a day and it is raining, then he will take an umbrella with him to the office provided there is one to be taken. Similarly, if he is at the office and at the end of a day it is raining, he will take one to go home (provided there is one...

5. Home-office deduction - Chad works for his employer 100% of the time from his home...

5. Home-office deduction - Chad works for his employer 100% of the time from his home office. There is a desk for him at work but he is allowed to choose where he works from. He also operates a side business for which he is self-employed. He works from the same home office and does all of his self-employed related work there. Is Chad allowed a home-office deduction for either, both or none of these situations?

A lawyer travels daily from his home (in the suburbs) to his office in the city...

A lawyer travels daily from his home (in the suburbs) to his office in the city center. On average, the journey takes 24 minutes with a standard deviation of 3.8 minutes. Assume that the distribution of transfer times are normally distributed. if the office opens at 9:00 a.m. and he leaves at 8:45 a.m. What percentage of the time are you late to work daily? If you leave home at 8:35 a.m. and coffee is served in the office between...

The driving time for an individual from his home to his work is uniformly distributed between...

The driving time for an individual from his home to his work is uniformly distributed between 300 to 540 seconds. a. Determine the first line of the probability density function. b. What is the probability that the driving time will be less than or equal to 405 seconds? c. What is the expected driving time? d. What is the variance for this distribution? e. What is the standard deviation for this distribution?

Mohad uses the second floor of his home exclusively as a home office for his unincorporated...

Mohad uses the second floor of his home exclusively as a home office for his unincorporated business and does not have another place of work. The space of the second floor is 1,000 square feet, while the total space of his home is 4,000 square feet. In the current taxation year, his business had $10,000 of income before home office expense and he incurred the following expenses relating to his home: Utilities and repairs $6,000 Home insurance and property taxes...

The research department at the home office of Arkansas Insurance conducts on-going research on the causes...

The research department at the home office of Arkansas Insurance conducts on-going research on the causes of automobile accidents, the characteristics of drivers, and so on. A random sample of 400 policies written on single persons revealed 96 had at least one accident in the previous three-year period. Similarly, a sample of 600 policies on married persons revealed that 125 have been in at least one accident. At the 0.05 significance level, is there a significant difference in the proportions...

William purchased a home three weeks ago for $600,000. He insured his home for $400,000. His...

William purchased a home three weeks ago for $600,000. He insured his home for $400,000. His home insurance policy includes: • 80% coinsurance clause • 100% guaranteed replacement cost clause. While installing a new washing machine there was an explosion, which resulted in damages of $250,000. Calculate how much he will be paid from his insurance company using: The 80% coinsurance clause? /3 marks The 100% guaranteed replacement cost clause? /3 marks

John is a university student in L.A. He is going home to Boston for the summer...

John is a university student in L.A. He is going home to Boston for the summer and has started looking for a summer internship. After a couple of months of searching, he finds an amazing internship with a small, local company in his hometown. His interview goes really well, and he is offered the internship. As he is reading through the internship offer, he discovers that the company hires interns for a strict minimum of 6 months. What should John...

Otto is 92 years of age. He lives in his own home with daily support from...

Otto is 92 years of age. He lives in his own home with daily support from a community based aged care service to assist with personal care, housework and shopping. He is gradually losing his hearing, but frequently misplaces his hearing aid; he is losing his eyesight and is unable to see objects clearly at a distance or to read small print; he had a minor stroke last year which left him with a speech impediment; and when he went...

Ember(E) and Rajan (R)are a couple with individual productivities in both the market and their home....

Ember(E) and Rajan (R)are a couple with individual productivities in both the market and their home. Each has 10 hours per day to devote to work. E can earn $9 per hour in the market, and can produce goods worth $8 per hour at home. R can earn $12 per hour in the market, and can produce goods worth $6 per hour at home. Market-produced goods cost $5 per unit. 1）Who has the higher opportunity cost of home production? Briefly...

Subjects