Question: Hi expert answer please Part I. Concept Check 1. Describe the Markov property, and try to give your own example of a Markov process. 2.

Hi expert answer please

Part I. Concept Check 1. Describe the Markov property, and try to give your own example of a Markov process. 2. What is a transition probability? 3. What are some ways to describe or illustrate a Markov chain? 4. How do we put transition probabilities together for the chance of a sequence or a future state? 5. How do we get a forecast for some finite number of moves into the future, using matrices? 6. How do we get a forecast for an indefinite number of moves into the future, using matrices

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