Markov Analysis enables to predict the future state of any system with the help of state transition probabilities matrix. States are both collectively exhaustive and mutually exclusive. Transition probabilities depend only on the current state of the system. Long run probability of being in a particular state will be constant over time.
Markov Analysis enables to predict the future state of any system with the help of state transition probabilities matrix. States are both collectively exhaustive and mutually exclusive. Tran…