The following problem is based upon one in kemeny and snell, Project Management

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The following problem is based upon one in kemeny and snell

The following problem is based upon one in Kemeny and Snell (1960).

In each year of a three -year degree course, a university student has probability p of not returning the following year, probability q ofhaving to repeat the year and probability r of passing (p +q +r = 1). The states are: dropped out (s₁); graduated (S₂), is a third-year student (S₃), is a secondyear student (S₄); and is a first-year student (S₅); Find the transition matrix P and the matrices Q and R.

(Note that this is a random walk with absorbing barriers.)

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Project Management: The following problem is based upon one in kemeny and snell

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