A university wishes to use steady state analysis to determine the long term distribution of majors in its Engineering degree. The university considers only the significant majors in it’s model, that b...

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A university wishes to use steady state analysis to determine the long term distribution of majors in its Engineering degree. The university considers only the significant majors in it’s model, that b...

A university wishes to use steady state analysis to determine the long term distribution of majors in its Engineering degree. The university considers only the significant majors in it’s model, that being: civil, mechanical and electrical, and looks at the most popular major each year. Given one major being the most popular in a specific year, then there is a 64% chance that major is still the major next year. If civil engineering is the most popular in a specific year, then there is a 20% chance mechanical is the most popular major next year, if mechanical is the most popular in a specific year, then civil has a 10% chance of being the most technical next year, and if electrical is the most popular in a specific year, then both mechanical and civil have an equal chance of being the most popular in the following years.

a Write out the transition matrix for this system, along with any random variables and states required.

b Determine the long term probabilities of each major.

c Why might it be a safe assumption to not include the other engineering majors in the calculations?

math Statistics-And-Probability

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Answer 1

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A university wishes to use steady state analysis to determine the long term distribution of majors in its Engineering degree. The university considers only the significant majors in it’s model, that b...

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Question Two A university wishes to use steady state analysis to determine the long term distribution of majors in its...

Summary should briefly analyze the central problems and issues of the case and provide some analysis...

A university wishes to use steady state analysis to determine the long term distribution of majors in its Engineering degree. The university considers only the significant majors in it’s model, that b...

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Add Answer to: A university wishes to use steady state analysis to determine the long term distribution of majors in its Engineering degree. The university considers only the significant majors in it’s model, that b...

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Question Two A university wishes to use steady state analysis to determine the long term distribution of majors in its...

Summary should briefly analyze the central problems and issues of the case and provide some analysis...

Add Answer to:
A university wishes to use steady state analysis to determine the long term distribution of majors in its Engineering degree. The university considers only the significant majors in it’s model, that b...