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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.
FOR each of the following cases, indicate why management and the auditors determined that control deficiency was a material weakness. Case1. In our assessment of the effectiveness
Factory Layout The first stage of implementing the JIT manufacturing techniques is to rearrange the factory floor away from the batch production functional layout towards a pro
Transition probabilities These are the probabilities of moving from one state to another in the next time period. Usually they are written in the form of a probability matrix.
Ageing Schedule: AS is classifies outstanding accounts receivable at a specified point of time into various age brackets. A clarifying ageing schedule is specified below.
Determine the tyoes of Cost centre Cost centre can be of two kinds: 1. Impersonal cost centre: consisting of a location or item of equipment (or group of these) like machi
Simple Queues A simple queue has the following characteristics; 1) There is a simple service channel 2) There are ‘discrete’ customers e.g. customers in a bank, or aircra
What the traffic can bear pricing Pricing based on what the traffic can bear is not a sophisticated method. It is used by retail traders as well as by some manufacturing firms.
how much is this service?
Transportation Problem-Solution Solution of the Transportation Problem: The fundamental steps of the transportation method are: Step 1: Determine a preliminary b
In the current corporate world, this is a common practice of companies along with surplus cash to lend to another company for a short period generally ranging from 60 days to 180 d
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