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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 4/54/5, goes Slow with probability 3/203/20, Stopped with probability 1/201/20. From Slow: Running with probability 2/52/5, stays Slow with probability 1/21/2, Stopped with probability 1/101/10. From Stopped: Running with probability 3/103/10, Slow with probability 1/51/5, stays Stopped with probability 1/21/2. A Slow day costs $200\$200 in lost output and a Stopped day costs $500\$500; a Running day costs nothing. In the long run, what is the expected cost per day? Express your answer as a common fraction.