Find steady-state probabilities for the transition matrix


Jackson is a carpenter who works for a large construction company that has a number of housing developments under way in the metropolitan Washington, DC, area. Each day Jackson is assigned to one of the company's developments, either hanging or finishing drywall, doing trim work, framing, or roofing. The following transition matrix describes the probability that he will move from a job one day to the same job or the next:

a. Determine the steady-state probabilities for this transition matrix.
b. If Jackson works 250 days during the year, how many days will he work at each job?

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Basic Statistics: Find steady-state probabilities for the transition matrix
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