Consider a k states Markov Chain model, assume that first and last states are terminal satets, and we start from any position between 1 and k. If transitions happen along these states in unit increments. Suppose, at each time period, a one unit transition to the left with probability 0.2, one unit to the right with probability 0.2, and stays in same state with probability 0.6, is independent of the past history of transitions. The process terminates at eaither state 1 or state k. Construct a Markov Chain model if k = 4. Find the probability of the path if the process terminates at state 4 given that started from state 1.

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In a Markov Chain with k states transitions are determined by transition probabilities In this case ... View the full answer