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Management · Q152

Operations Research or Qualitative Approach

Graduate and Post Graduate · Management · question 152

Q152

In Markov analysis, state probabilities must.

A.
Sum to one
Answer
B.
Be less than one
C.
Be greater than one
D.
None of the above

Answer: Option A

Solution

Answer: Option A
Solution:
In Markov analysis, state probabilities must sum to one. Markov assumptions: (1) the probabilities of moving from a state to all others sum to one, (2) the probabilities apply to all system participants, and (3) the probabilities are constant over time.