Lemma practice generator two-state-markov #125 · Probability · Markov chains

Long-run behaviour of a two-state chain

A two-state Markov chain moves from state 0 to state 1 with probability $\frac{1}{3}$ and from state 1 to state 0 with probability $\frac{3}{4}$ . In the long run, what fraction of the time is it in state 0?

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