If the probability of making a transition from a state is 0, then that state is called a(n)

Related MCQs

• 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
• In a matrix of transition probability, the probability values should add up to one in each
• If a matrix of transition probability is of the order n*n, then the number of equilibrium equations would be
• A transition probability describes
• In a matrix of transition probability, the element aij where i=j is a
• The probability of going from state 1 in period 2 to state 4 in period 3 is
• State transition probabilities in the Markov chain should
• The probability that a system is in a particular state after a large number of periods is
• The transition matrix elements remain positive from one point to the next. This property is known as:
• Given the following table that presents the solution for a queuing problem with a constant service rate, the probability that the server is idle is