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Question: A city is served by two newspapersthe Tribune and
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A city is served by two newspapers?the Tribune and the Daily News. Each Sunday reader purchases

one of the newspapers at a stand. The following transition matrix contains the probabilities of a

customer's buying a particular newspaper in a week, given the newspaper purchased the previous

Sunday:



This Sunday Next Sunday

Tribune Daily News

Tribune 0.65 0.35

0.45 0.55


Determine the steady-state probabilities for this transition matrix algebraically and explain

what they mean.


 







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