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Cyclic Chains:
In Markov Chains the current state of the system depends on all previous states. It is a stochastic process. Sometimes transition probability matrices are different from State I to State II, State II to State III etc and from cyclic chains which repeat in the same order.Recurrent State:
A state is recurrent if it is certain to take place again, given that it has happened at least once, otherwise it is said to be transient. In other words, a transient state will take place only a limited number of times and then go away forever whereas the recurrent state is permanent. If a process is finite (i.e. has a finite number of states) and is irreducible, then all states are recurrent. This is the most common form of Markov Chain in applications.
Incremental budgeting This is used to describe an incremental cost approach to budgeting where the next period budget is based on the current year’s results plus an extra amou
CONSULTING PROJECT Pricing and Production Decisions at PoolOut Ltd PoolOut Ltd manufactures and sells a single product called the "RainIn", which is a patent-protected au
discuss which of the cost classification is suitable for LunchBreak LTD and why?
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literature review of effects of working capital on financial performance?
I WANT TO KNOW THE RULES FOR DOING LIFO AND FIFO
Going rate or follow the crowd pricing:- In this method the firm price its products at the similar level as that of the competition. This method supposes that there will be no
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