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CT4 - September 2012 Q5

S

sskulnick

Made first post
Hi,

I am struggling with part i of this question - could anyone please assist?

In the solutions it says that pi =(1-2a,a,a).

Could someone please explain where this comes from?

Thanks
 
Hello

This is because we're told that the long-term probability of being in the 15% state is the same as the long-term probability of being in the 40% state. So the stationary distribution must be of the form (something, a, a) where a represents the long-term probability of being in the 15% or 40% states. As the probabilities must sum to 1, the first entry has to be 1-2a.

Hope this helps!

Andy
 
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