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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.
Explain the Types of standards The following is the brief description of various types of standards: 1) Basic standards: these are the standards which are assumed to remai
Classification and computation of variances The computation and analysis of variances is the main aim of standard costing. The variance is the difference among the standard pe
Transportation model Table A more compact method for representing the transportation model than the linear equations is to use what we call the transportation tableau. It is a
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.
First Cut Analysis of Costs The allocation of costs and assets will produce a value chain that illustrates graphically the distribution of a firm's costs. It can prove reveali
disadvantages of transfer pricing
what is cross elasticity of demand? is it positive for substitute or compliments? show in a diagram relating to the demand for the coffee to the price of tea
In this scheme, non-revolving line of credit is extended to the seller to be utilized inside a stipulated period. Assistance is provided to manufactures for promoting sale of their
How might a company use regression results to manage overhead costs?
Question 1: (a) Use indifference curves to distinguish between income and substitution effects. (b) Hence, using the above techniques explain why the demand curve slope down
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