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Steady-state probabilities for this transition matrix algebraically

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A city is served by two newspapers- the Tribune and the Daily News. Each Sunday reader purchases one of the newspapers at a stand.

The following transition matrix contains the probabilities of a customer buying a particular newspaper in a week, given the newspaper purchased the previous week.

This Sunday Next Sunday

Tribune Daily News

Tribune 65 .35
Daily News .45 .55

Determine the steady-state probabilities for this transition matrix algebraically and explain what they mean.

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Steady-state probabilities for this transition matrix algebraically is examined.

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