Linear AlgebraHardMarkov Chains & Long-Run Behavior
Markov Chains & Long-Run Behavior · Hard problem
A factory's assembly line is each day Running, Slow or Stopped. From Running: stays Running with probability , goes Slow with probability , Stopped with probability . From Slow: Running with probability , stays Slow with probability , Stopped with probability . From Stopped: Running with probability , Slow with probability , stays Stopped with probability . A Slow day costs in lost output and a Stopped day costs ; a Running day costs nothing. In the long run, what is the expected cost per day? Express your answer as a common fraction.