Q156
While calculating equilibrium probabilities for a Markov process, it is assumed that?
A.
There is a single absorbing state
B.
Transition probabilities do not change
AnswerC.
There is a single non-absorbing state
D.
None of the above
Answer: Option B
Solution
Answer: Option B
Solution:
While calculating equilibrium probabilities for a Markov process, it is assumed that transition probabilities do not change. Markov Analysis is a method used to forecast the value of a variable whose future value is influenced only by its current position or state, not by any prior activity that led the variable to its current position or state.