I tend to be somewhat moody at times. If I am in a good mood today, there is an 95% chance I will still be in a good mood tomorrow.

I tend to be somewhat moody at times. If I am in a good mood today, there is an 95% chance I will still be in a good mood

tomorrow. But if I am crotchety today, there is only a 70% chance that my mood will be good tomorrow.

1.  Find the 2 x 2 stochastic matrix for this situation.

2.  If I am in a good mood today, what is the probability I will be in a good mood three days from now.

3.  Over the long term, what percentage of the time am I in a good mood? (Evaluate the steady state of the stochastic

matrix and recall the interpretation)

This