Markov analysis is a technique that deals with the probabilities of future occurrences by

Related MCQs

• In Markov analysis, state probabilities must
• The following data consists of a matrix of transition probabilities (P) of three competing companies, the initial market share state 16_10.gif(1), and the equilibrium probability states. Assume that each state represents a firm (Company 1, Company 2, and Company 3, respectively) and the transition probabilities represent changes from one month to the next. The market share of Company 1 in the next period is
• State transition probabilities in the Markov chain should
• While calculating equilibrium probabilities for a Markov process, it is assumed that
• In Markov analysis, we are concerned with the probability that the
• Analysis of a Markov process
• Markov analysis might be effectively used for
• The following is not an assumption of Markov analysis.
• Markov analysis assumes that conditions are both
• In Markov analysis, the likelihood that any system will change from one period to the next is revealed by the