To find the equilibrium state in Markov analysis
A)it is necessary to know both the vector of state probabilities and the matrix of transition probabilities.
B)it is necessary only to know the matrix of transition probabilities.
C)it is necessary only to know the vector of state probabilities for the initial period.
D)one should develop a table of state probabilities over time and then determine the equilibrium conditions empirically.

Question

Quizplus · Accepted Answer

To find the equilibrium state in Markov analysis, it is necessary only to know the matrix of transition probabilities. This matrix provides the probabilities of moving from one state to another in one time step, and by analyzing it, one can determine the long-term or equilibrium distribution of states, assuming it exists.

To Find the Equilibrium State in Markov Analysis