a.Here is the Markov Chain, then : Which state is communicating? Which are the transient states? The systems are ergodic or non-ergodic? b Explain reneging, balking, and jockeying in queueing theory! c. Please pay attention to the following statements! Statement 1: In making rational decisions, a player needs anticipation of the competitor’s response. Statement 2: Competitor’s behavior can be expected. Are the two above statements true or false?

a.Here is the Markov Chain, then : Which state is communicating? Which are the transient states? The systems are ergodic or non-ergodic? b Explain reneging, balking, and jockeying in queueing theory! c. Please pay attention to the following statements! Statement 1: In making rational decisions, a player needs anticipation of the competitor’s response. Statement 2: Competitor’s behavior can be expected. Are the two above statements true or false?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Show full answers and steps to part d) and e) using Markov Chain Theory. Please explain how you get to the answers without using excel, R or stata
The Tiger Sports Shop1 has hired you as an analyst to understand its market position with respect to Clemson merchandise. It is particularly concerned about its major competitor, Mr. Knickerbocker, and which Clemson-related store has the ‘lead’ market share. Recent history has suggested that which Clemson-related store has the ‘lead market share’ can be modeled as a Markov Chain using three states: TSS (Tiger Sports Shop), MK (Mr. Knickerbocker), and Other Company (OC). Data on the lead market share is taken monthly and you have constructed the following one-step transition probability matrix from past data in the picture. a) The current state of the lead market share in October is that Tiger Sports Shop is in the lead (i.e., the Markov Chain in October is TSS). Tiger Sports Shop is considering launching a new brand in February only if it has the lead market share in January. Determine the probability that TSS will launch this new brand. Please show any equations or matrices…
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