Question 1

A collection of all state probabilities for a given system at any given period of time is called the

Accepted Answer

A) transition probabilities. 
B) vector of state probabilities. 
C) fundamental matrix. 
D) equilibrium condition. 
E) None of the above 
A) transition probabilities. 
B) vector of state probabilities. 
C) fundamental matrix. 
D) equilibrium condition. 
E) None of the above

Question 2

Which of the following is not an assumption of Markov processes?

Accepted Answer

A) The state variable is discrete. 
B) There are a limited number of possible states. 
C) The probability of changing states remains the same over time. 
D) We can predict any future state from the previous state and the matrix of transition probabilities. 
E) The size and the makeup of the system do not change during the analysis. 
A) The state variable is discrete. 
B) There are a limited number of possible states. 
C) The probability of changing states remains the same over time. 
D) We can predict any future state from the previous state and the matrix of transition probabilities. 
E) The size and the makeup of the system do not change during the analysis.

Question 3

In Markov analysis,initial-state probability values determine equilibrium conditions.

Accepted Answer

A) True 
 B)False

Question 4

One of the problems with using the Markov model to study population shifts is that we must assume that the reasons for moving from one state to another remain the same over time.

Accepted Answer

A) True 
 B)False

Question 5

The four basic assumptions of Markov analysis are:
1.There are a limited or finite number of possible states.
2.The probability of changing states remains the same over time.
3.A future state is predictable from previous state and transition matrix.
4.The size and makeup of the system are constant during analysis.

Accepted Answer

A) True 
 B)False

Question 6

The copy machine in an office is very unreliable.If it was working yesterday,there is an 80% chance it will work today.If it was not working yesterday,there is a 10% chance it will work today.If it is not working today,what is the probability that it will be working 2 days from now?

Accepted Answer

A) 0.16 
B) 0.17 
C) 0.34 
D) 0.66 
E) None of the above 
A) 0.16 
B) 0.17 
C) 0.34 
D) 0.66 
E) None of the above

Question 7

In a(n)________ state,you cannot go to another state in the future.

Accepted Answer

A) transition 
B) equilibrium 
C) prison 
D) locked 
E) absorbing 
A) transition 
B) equilibrium 
C) prison 
D) locked 
E) absorbing

Question 8

The fax machine in an office is very unreliable.If it was working yesterday,there is an 90% chance it will work today.If it was not working yesterday,there is a 5% chance it will work today.
(a)What is the probability that it is not working today,if it was not working yesterday?
(b)If it was working yesterday,what is the probability that it is working today?

Accepted Answer

The answer of The fax machine in an office is...

Question 9

In Markov analysis,the fundamental matrix

Accepted Answer

A) is necessary to find the equilibrium condition when there are absorbing states. 
B) can be found but requires,in part,partitioning of the matrix of transition probabilities. 
C) is equal to the inverse of the I minus B matrix. 
D) is multiplied by the A matrix in order to find the probabilities that amounts in non-absorbing states will end up in absorbing states. 
E) All of the above 
A) is necessary to find the equilibrium condition when there are absorbing states. 
B) can be found but requires,in part,partitioning of the matrix of transition probabilities. 
C) is equal to the inverse of the I minus B matrix. 
D) is multiplied by the A matrix in order to find the probabilities that amounts in non-absorbing states will end up in absorbing states. 
E) All of the above

Question 10

Over any given month,Hammond Market loses 10% of its customers to Otro Plaza and 20% to Tres Place.Otro Plaza loses 5% to Hammond and 10% to Tres Place.Tres Place loses 5% of its customers to each of the two competitors.At the present time,Hammond Market has 40% of the market,while the others have 30% each.
(a)Next month,what will the market shares be for the three firms?
(b)In two months,what will the market shares be for the three firms?

Accepted Answer

(a)Hammond 31%,Otro

Question 11

What do we do when solving for equilibrium conditions?

Accepted Answer

A) conduct a statistical t-test 
B) drop one equation 
C) partition the matrix of transition probabilities 
D) subtract matrix B from the identity matrix 
E) multiply the fundamental matrix by the A matrix 
A) conduct a statistical t-test 
B) drop one equation 
C) partition the matrix of transition probabilities 
D) subtract matrix B from the identity matrix 
E) multiply the fundamental matrix by the A matrix

Question 12

Markov analysis assumes that while a member of one state may move to a different state over time,the overall makeup of the system will remain the same.

Accepted Answer

A) True 
 B)False

Question 13

There is a 60% chance that a customer without a smart phone will buy one this year.There is a 95% chance that a customer with a smart phone will continue with a smart phone going into the next year.If 30% of target market currently own smart phones,what is the long-run percentage of the target market that will own smart phones?

Accepted Answer

The answer of There is a 60% chance that a...

Question 14

For any absorbing state,the probability that a state will remain unchanged in the future is one.

Accepted Answer

A) True 
 B)False

Question 15

In Markov analysis,to find the vector of state probabilities for any period,

Accepted Answer

A) one should find them empirically. 
B) subtract the product of the numbers on the primary diagonal from the product of the numbers on the secondary diagonal. 
C) find the product of the vector of state probabilities for the preceding period and the matrix of transition probabilities. 
D) find the product of the vectors of state probabilities for the two preceding periods. 
E) take the inverse of the fundamental matrix. 
A) one should find them empirically. 
B) subtract the product of the numbers on the primary diagonal from the product of the numbers on the secondary diagonal. 
C) find the product of the vector of state probabilities for the preceding period and the matrix of transition probabilities. 
D) find the product of the vectors of state probabilities for the two preceding periods. 
E) take the inverse of the fundamental matrix.

Question 16

If you are in an absorbing state,you cannot go to another state in the future.

Accepted Answer

A) True 
 B)False

Question 17

The matrix that is needed to compute equilibrium conditions when absorbing states are involved is called a(n)

Accepted Answer

A) transition matrix. 
B) fundamental matrix. 
C) identity matrix. 
D) equilibrium matrix. 
E) absorbing matrix. 
A) transition matrix. 
B) fundamental matrix. 
C) identity matrix. 
D) equilibrium matrix. 
E) absorbing matrix.

Question 18

A Markov process could be used as a model of how a disease progresses from one set of symptoms to another.

Accepted Answer

A) True 
 B)False

Question 19

Markov analysis is a technique that deals with the probabilities of future occurrences by

Accepted Answer

A) using the simplex solution method. 
B) analyzing currently known probabilities. 
C) statistical sampling. 
D) the minimal spanning tree. 
E) None of the above 
A) using the simplex solution method. 
B) analyzing currently known probabilities. 
C) statistical sampling. 
D) the minimal spanning tree. 
E) None of the above

Question 20

Creating the fundamental matrix requires a partition of the matrix of transition.

Accepted Answer

A) True 
 B)False

A collection of all state probabilities for a given system at any given period of time is called the

Which of the following is not an assumption of Markov processes?

In Markov analysis,initial-state probability values determine equilibrium conditions.

One of the problems with using the Markov model to study population shifts is that we must assume that the reasons for moving from one state to another remain the same over time.

The copy machine in an office is very unreliable.If it was working yesterday,there is an 80% chance it will work today.If it was not working yesterday,there is a 10% chance it will work today.If it is not working today,what is the probability that it will be working 2 days from now?

In a(n)________ state,you cannot go to another state in the future.

In Markov analysis,the fundamental matrix

What do we do when solving for equilibrium conditions?

Markov analysis assumes that while a member of one state may move to a different state over time,the overall makeup of the system will remain the same.

For any absorbing state,the probability that a state will remain unchanged in the future is one.

In Markov analysis,to find the vector of state probabilities for any period,

If you are in an absorbing state,you cannot go to another state in the future.

The matrix that is needed to compute equilibrium conditions when absorbing states are involved is called a(n)

A Markov process could be used as a model of how a disease progresses from one set of symptoms to another.

Markov analysis is a technique that deals with the probabilities of future occurrences by

Creating the fundamental matrix requires a partition of the matrix of transition.

Introduction to Quantitative Analysis

Probability Concepts and Applications

Decision Analysis

Regression Models

Forecasting

Inventory Control Models

Linear Programming Models: Graphical and Computer Methods

Linear Programming Applications

Transportation,assignment,and Network Models

Integer Programming,goal Programming,and Nonlinear Programming

Project Management

Waiting Lines and Queuing Theory Models

Simulation Modeling

Statistical Quality Control

Analytic Hierarchy Process

Dynamic Programming

Decision Theory and the Normal Distribution

Game Theory

Mathematical Tools: Determinants and Matrices

Calculus-Based Optimization

Linear Programming: The Simplex Method

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Exam 14: Markov Analysis

A collection of all state probabilities for a given system at any given period of time is called the

Which of the following is not an assumption of Markov processes?

In Markov analysis,initial-state probability values determine equilibrium conditions.

One of the problems with using the Markov model to study population shifts is that we must assume that the reasons for moving from one state to another remain the same over time.

The copy machine in an office is very unreliable.If it was working yesterday,there is an 80% chance it will work today.If it was not working yesterday,there is a 10% chance it will work today.If it is not working today,what is the probability that it will be working 2 days from now?

In a(n)________ state,you cannot go to another state in the future.

In Markov analysis,the fundamental matrix

What do we do when solving for equilibrium conditions?

Markov analysis assumes that while a member of one state may move to a different state over time,the overall makeup of the system will remain the same.

For any absorbing state,the probability that a state will remain unchanged in the future is one.

In Markov analysis,to find the vector of state probabilities for any period,

If you are in an absorbing state,you cannot go to another state in the future.

The matrix that is needed to compute equilibrium conditions when absorbing states are involved is called a(n)

A Markov process could be used as a model of how a disease progresses from one set of symptoms to another.

Markov analysis is a technique that deals with the probabilities of future occurrences by

Creating the fundamental matrix requires a partition of the matrix of transition.

Introduction to Quantitative Analysis

Probability Concepts and Applications

Decision Analysis

Regression Models

Forecasting

Inventory Control Models

Linear Programming Models: Graphical and Computer Methods

Linear Programming Applications

Transportation,assignment,and Network Models

Integer Programming,goal Programming,and Nonlinear Programming

Project Management

Waiting Lines and Queuing Theory Models

Simulation Modeling

Statistical Quality Control

Analytic Hierarchy Process

Dynamic Programming

Decision Theory and the Normal Distribution

Game Theory

Mathematical Tools: Determinants and Matrices

Calculus-Based Optimization

Linear Programming: The Simplex Method

Transportation, Assignment, and Network Algorithms

Filters