A. There is a single absorbing state
B. Transition probabilities do not change
C. There is a single non-absorbing state
D. None of the above
✅ The correct answer is option B.
While calculating equilibrium probabilities for a Markov process, it is assumed that transition probabilities do not change. Markov Analysis is a method used to forecast the value of a variable whose future value is influenced only by its current position or state, not by any prior activity that led the variable to its current position or state.
While calculating equilibrium probabilities for a Markov process, it is assumed that transition probabilities do not change. Markov Analysis is a method used to forecast the value of a variable whose future value is influenced only by its current position or state, not by any prior activity that led the variable to its current position or state.