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Consider a 2x2 transition matrix P consisting of column vectors [a c] and [b d]. The...

Consider a 2x2 transition matrix P consisting of column vectors [a c] and [b d]. The matrix P has two eigenvalues: 1 and k. Find the value of k in terms of the elements of the matrix P and place constraints of the values of k.

Calculate eigenvectors for each eigenvalue and hence write down the matrix S whose columns are the eigenvalues of P.

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