Simulating general two-state discrete time Markov chain and evaluating its steady state.
Exercise.
For the general two-state process the transition matrix . Determine the steady state vector for the state vector [𝜑0 𝜑1].
Computer Solution.
A computer simulation of two states (project 3) will be modified to determine the steady state.
Probability
The Birthday Problem
This a problem that can be solved using a computational solution.
Assume 365 days in a year and that people’s birthdays are randomly distributed throughout the year. With 𝑘 people in a room, what is the probability that at least two have the same birthday?
Theory:
Computer Solution:
Poisson Random Variable
Write a program in Python that recursively generates Poisson probabilities. Note the change in shape as the parameter increases.
