Markov chains or processes, Mathematics

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What is Markov Chains or Processes?


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MARKOV PROCESS, EXPLAIN HOW MARKOV PROCESS IS APPLIED IN BRAND SWITCHING?

EXPLAIN HOW MARKOV PROCESS IS APPLIED IN BRAND SWITCHING?

2/12/2013 5:21:21 AM

The Markov processes are described as a set of trials which follow a specific sequence that depend on a given set of probabilities identified as transition probabilities. These probabilities show how a particular activity or product moves from one state to another.

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