Reference no: EM132204760
1. Which of the following is a true statement regarding Markov Analysis
1. Markov Analysis is a Technique that involves predicting probabilities of future occurrences
2. Markov Analysis is a stochastic process in which current states of a system depend on previous states
3. The objective of Markov Analysis is to predict future states of nature given the probabilities of existing states
4. All of the above are true regarding Markov Analysis
5. All of the above are NOT true regarding Markov Analysis
2. Which of the following are Markov properties
1. The states of nature are mutually exclusive and collectively exhausted
2. Each entry in the transition matrix is a conditional probability that is nonnegative in value
3. The summation of all the probabilities in the transition matrix sume to a value of 1.0 along each row in the matrix
4. All of the above
5. None of the above
3. The Markov state that is characterized by all zero’s in the retention cells (diagonal of the matrix) and all one’s or zero’s in non retention cells is referred to as
1. Periodic State
2. Absorbing State
3. Trapping State
4. Ergodic State
5. Transient