Data for the progression of college students at a particular college are summarized in the following matrix of transition probabilities.
a. What states are absorbing states?
b. Interpret the transition probabilities for a sophomore.
c. Use the Management Scientist software package to compute the probabilities that a sophomore will graduate and that a sophomore will drop out.
d. In an address to the incoming class of 600 freshmen, the dean asks the students to look around the auditorium and realize that about 50% of the freshmen present today will not make it to graduation day. Does your Markov process analysis support the dean?s statement? Explain.
e. Currently, the college has 600 freshmen, 520 sophomores, 460 juniors, and 420 seniors. What percentage of the 2000 students attending the college will eventuallygraduate?
This question was answered on: Jul 11, 2017
Need a similar solution fast, written anew from scratch? Place your own custom order
We have top-notch tutors who can help you with your essay at a reasonable cost and then you can simply use that essay as a template to build your own arguments. This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student. New solution orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.