The Transient worksheet is constructed by clicking the appropriate button on the Matrix page. Given an initial starting state, the worksheet shows the transient probabilities for 20 or more steps. The START button provides the opportunity to specify the initial state. Pressing the MORE button reveals probabilities for additional steps. In addition to state probabilities, columns provide the economic value for each step, the cumulative value and the present worth using the discount factor.

The transient analysis for the example problem starting from the state of a new bulb is shown below. For example after 12 months of operation, approximately 60% of the bulbs in the sign will be new (after maintenance), while only about 1% will be entering their 4th month of life. The expected cost of maintaining one bulb in the sign is $0.71, the cumulative cost for the twelve months is $9.14, and the present worth of costs using a 10% discount rate per month is $4.96. These figures can be used to estimate budgets or make decisions regarding alternative design or maintenance policies.