50Stationary distribution, 2 states
A two-state Markov chain has transition matrix . Find its stationary distribution. Give the answer to 4 decimal places.
Solve π = πP with π₁+π₂=1: this gives π₁ = 5π₂, and substituting into the normalization gives π₂ = 1/6 ≈ 0.1667, π₁ = 5/6 ≈ 0.8333. Check: 0.1(0.8333)+0.5(0.1667) = 0.1667 ✓.