The condition that a system can be in only one state at any point in time is known as

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 initial solution of a transportation problem can be obtained by applying any known method. However, the only condition is that
• Any activity which does not consume either any resource or time is called ………..activity.
• 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
• The transition matrix elements remain positive from one point to the next. This property is known as:
• In Markov analysis, the likelihood that any system will change from one period to the next is revealed by the
• At any period n, the state probabilities for the next period n+1 is given by the following formula:
• Probabilities of occurrence of any state are
• The probability of going from state 1 in period 2 to state 4 in period 3 is
• If the probability of making a transition from a state is 0, then that state is called a(n)