A Markov process with generator matrix Q is modelled by two embedded Markov chains. Chain one uses r1 = α, chain two uses r2 = 2α. Explain how the choice of the two different rates impacts the modelling of the process and what the difference of the dynamics of the chains is?

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The choice of the two different rates in the embedded Markov chains impacts the modelling of the process in the following ways The rate at which the p... View the full answer