Can someone please explain the part iii. of this question. I'm unable to understand why 1 is added to m_k equation.
Hello The 1 relates to each new week going by. So, for example, if we have 10 chapters currently finished, then: m_10 = 1 + 0.75m_11 + 0.25*m_10 The 1 denotes the week of time passing. After that week we have either completed another chapter, with probability 0.75, and so the remaining expected time is m_11, or we haven't, with probability 0.25 and so the remaining expected time is still m_10. Hope this helps! Andy
