CAS Exam MAS-I Fall 2018, Question 9
Study guide: Exam MAS-I
You are given the following information about a homogenous Markov chain:
- There are three states to answering a trivia question: Skip (State 0), Correct (State 1), and Wrong (State 2)
P = \begin{bmatrix} 0 & 0.85 & 0.15 \\ 0.20 & 0.80 & 0 \\ 0 & 0.70 & 0.30 \end{bmatrix}- The candidate skipped the previous question
Calculate the probability of the candidate correctly answering at least one of the two subsequent questions.
- A) Less than 0.92
- B) At least 0.92, but less than 0.94
- C) At least 0.94, but less than 0.96
- D) At least 0.96, but less than 0.98
- E) At least 0.98
Answer this question and see the worked solution