Actuary@22
Very Active Member
Hi
I have a doubt in the concept Expected time to reach state k starting from state i in Ch 4 page 31 as per acted 2019 material.
Eg There are 3 states i=1,2,3 and transitions are possible from i to i +1,i to i -1 and even from i to i .
We want to calculate the average time for an object currently in state 1 to move to state 3.
So in the formula mentioned below will we also include j=1 or not?Pls explain.
m1=1/lambda1 + summation of j=1,2 (mew 1j/lamda1 )*mj
I have a doubt in the concept Expected time to reach state k starting from state i in Ch 4 page 31 as per acted 2019 material.
Eg There are 3 states i=1,2,3 and transitions are possible from i to i +1,i to i -1 and even from i to i .
We want to calculate the average time for an object currently in state 1 to move to state 3.
So in the formula mentioned below will we also include j=1 or not?Pls explain.
m1=1/lambda1 + summation of j=1,2 (mew 1j/lamda1 )*mj