Assignment #3B SECTION 4: MARKOV PROCESSES 3) Data for the progression of college students at a particular college are summarized in the following matrix of transition probabilities: Graduate Drop Out Freshman Sophomore Junior Senior Graduate 1.00 0.00 0.00 0.00 0.00 0.00 Drop Out 0.00 1.00 0.00 0.00 0.00 0.00 Freshman 0.00 0.20 0.15 0.65 0.00 0.00 Sophomore 0.00 0.15 0.00 0.10 0.75 0.00 Junior 0.00 0.10 0.00 0.00 0.05 0.85 Senior 0.90 0.05 0.00 0.00 0.00 0.05 Required: (a) What states are considered absorbing states? Why? (b) What percentage of the current sophomores will eventually graduate from the college and what percentage will drop out? (c) The college currently has 2000 students comprising of 600 freshmen, 520 sophomores, 460 juniors, and 420 seniors. What percentage of the 2000 students attending the college will eventually graduate?