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Time inhomogeneous Markov Jump Process example

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asked May 7, 2018 in BUS 3018F - Models by anonymous

This questions comes from Example 2.7 in the 2018 lecture notes.

I don't understand the steps I need to take in solving this question. 2.7 iii) 

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1 Answer

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answered May 14, 2018 by Njabulo.Dube (2,950 points)

Hi anonymous

In order to solve part (iii) you need to combine the results of the previous parts of the questions and apply them to the novel scenario. You can expect several questions of this nature where the examiners guide you through the process.

I've uploaded my attempt at the question, explaining the steps I took and the reasoning behind my thought process.

Example 2.7.pdf (0,5 MB)