Question: Consider the two-state Markov chain with P01 = p and P10 = q, with initial distribution αi = P(X0 =i)for i=0,1, as discussed in class. Assume that p+q̸=0,2. (a) Determine the expected value E(Xn) and its limit as n → ∞. (b) Compare the expected value of the stationary distribution.
I have no idea about how to calculate the expected value of E(Xn) and its limit as n → ∞. Any help would be appreciated.