The weather on any given day in a particular city can be sunny, cloudy, or rainy. it has been observed to be predictable largely on the basis of the weather on the previous day. specfically:

if it is sunny on one day, it will be sunny the next day 1/6 of the time, and be cloudy the next day 1/3 of the time

if it is cloudy on one day, it will be sunny the next day 1/6 of the time, and be cloudy the next day 1/6 of the time

if it is rainy on one day, it will be sunny the next day 1/2 of the time, and be cloudy the next day 1/6 of the time

using 'sunny', 'cloudy', and 'rainy' (in that order) as the states in a system, set up the transition matrix for a markov chain to describe this system.

< back to assignment attempts: 1 1 keep the highest: 1 / 2 2. determining opportunity cost juanita is deciding whether to buy a suit that she wants, as well as where to buy it. three stores carry the same suit, but it is more convenient for juanita to get to some stores than others. for example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $102 for the suit: store travel time each way price of a suit (minutes) (dollars per suit) local department store 15 102 across town 30 88 neighboring city 60 65 juanita makes $42 an hour at work. she has to take time off work to purchase her suit, so each hour away from work costs her $42 in lost income. assume that returning to work takes juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. as you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. complete the following table by computing the opportunity cost of juanita's time and the total cost of shopping at each location. store opportunity cost of time price of a suit total cost (dollars) (dollars per suit) (dollars) local department store 102 across town 88 neighboring city 65 assume that juanita takes opportunity costs and the price of the suit into consideration when she shops. juanita will minimize the cost of the suit if she buys it from the . grade it now save & continue continue without saving

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Ski powder resort ends its fiscal year on april 30. the business adjusts its accounts monthly, but closes them only at year-end (april 30). the resort's busy season is from december 1 through march 31. adrian pride, the resort's chief financial officer, the museums a close watch on lift ticket revenue and cash. the balances of these accounts at the end of each of the last five months are as follows: