Draw the transition probability graph and construct the transition probability matrix of the following problems. s. (Cyert and Associates, 1963) Bank1 offers loans which are either paid when due or are delayed. If the payment on a loan is delayed more than 4 quarters (1 year), Bank con siders the loan a bad debt and writes it off. The following table provides a sample of Bankl's past experience with loans Loan amount Quarters late Payment history $2000 paid, $3000 delayed by an extra quarter, $3000 delayed by 2 extra quarters, and the rest delayed 3 cxtra quarters. $4000 paid, $12,000 delayed by an extra quarter, $6000 delayed by 2 extra quarters, and the rest delayed by 3 extra quarters. $7500 paid, $15,000 delayed by an extra quarter, and the rest delayed by 2 extra quarters. $42,000 paid and the rest delayed by an extra quarter. $50,000 paid. $10,000 $25,000 $50,000 3. $S0,000 $100,000 4

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