Occasionally, a state is entered which will not allow going to another state in the future. This is called

Related MCQs

• A simulation model used in situations where the state of the system at one point in time does not affect the state of the system at future points in time is called a
• The probability of going from state 1 in period 2 to state 4 in period 3 is
• If we are going to simulate an inventory problem, we must
• Markov analysis is a technique that deals with the probabilities of future occurrences by
• . ………..is a method of analyzing the current movement of the same variable in an effort to predict the future movement of the same variable.
• If the probability of making a transition from a state is 0, then that state is called a(n)
• Customer behavior in which the customer moves from one queue to another in a multiple channel situation is
• 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
• Any activity which does not consume either any resource or time is called ………..activity.
• The probability that a system is in a particular state after a large number of periods is