Answer to Question #242210 in Statistics and Probability for jasim

Question

Given that a person’s last chocolate purchase was kitkat, there is a 75% chance that his

next chocolate purchase will also be kitkat. 5% chance that his next chocolate purchase

will be park. If a person’s last chocolate purchase was park, there is an 70% chance that

his next chocolate purchase will be kitkat. 10% chance that his next chocolate purchase

will also be park. If a person’s last chocolate purchase was dairy milk, there is an 90%

chance that his next chocolate purchase will also be dairy milk, 5% of kitkat and 5% of

park.(a) You may buy daily milk today with a chance of 99%. What is the probability that after 3 purchase you will switch to kitkat?

(b) Does this statement proof long run property of markov chain

steady state probabilities?