'CASE STUDY
523
14-33 Lulu is a surfer who lives in Conway; South Carolina. Through experience, she has determined the transi- tion probabilities for surf conditions from any one day to the next at nearby North Myrtle Beach:
GOOD
FAIR
POOR
Good
0.9 0.7 0.
0.05 0.05 0.2 0.1 Fan 0.3 0.2
Fair Poor
Determine the equilibrium probabilities of good, fair; and poor surf conditions_ What does this tell you about surfing conditions in general at North Myrtle Beach?'