Give two real-world examples (with the stochastic matrix and what it is modeling) of Markov chain models

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Give two "real-world" examples (with the stochastic matrix and what it is modeling) of Markov chain models which contain:

(a) Periodic classes (groups) of states

(b) An ergodic system

Related Book For answer-question

Introduction to Operations Research

ISBN: 978-1259162985

10th edition

Authors: Frederick S. Hillier, Gerald J. Lieberman

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Posted Date: Oct 17, 2023 02:45 AM

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Give two real-world examples (with the stochastic matrix and what it is modeling) of Markov chain models

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a Periodic Classes of States Example 1 Weather Pattern Imagine modeling the weather pattern in a reg... View the full answer

Introduction to Operations Research

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