In Markov analysis, state probabilities must

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