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Assume that the following pattern holds true through future generations in a certain country: 60% of...

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Assume that the following pattern holds true through futuregenerations in a certain country: 60% of the daughters of workingwomen also work and 20% of the daughters of non–working women work.Find the transition matrix of the Markov chain modelingworking/non–working states across generations.

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Assume two states in our model working State 1 andnonworking State 2 So our transition matrix is going to be a 2by 2 square matrixWhere represents the probability that State 1 remains State 1 in thenext generation in other words probability that daughter of    See Answer
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