A company leases rental cars at three Chicago offices
Chapter , Problem 36(choose chapter or problem)
A company leases rental cars at three Chicago offices (located at Midway Airport. O'Hare Field. and the Loop). It' record' show that 60'k of the car;, rented at Midway are returned there and 20'k are returned to each of the other location;. Also. So rented at the Loop are returned there. I<>'< are rewrned to Midway. and 20'k are returned to O'llare. (a) rusummg that the prccedmg mformatton describes a Markov chain. wnte a transition matrix for this situation. (b) If a car is rented at O'llare. what is the probability that it will be returned to the Loop? (c) If a car ts rented at Midway. \\hat is the probability that it witt be returned to the Loop a fter its second rental? (d) Over the long run. if all o f the cars are returned, what proportion of the company's fleet will be located at e"ch office?
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