Multiple Choice
In a matrix of transition probabilities (where i equals the row number and j equals the column number) ,
A) each number represents the conditional probability of being in state j in the next period given that it is currently in the state of i.
B) each number represents the probability that if something is in state i,it will go to state j in the next period.
C) the number in row 3,column 3 represents the probability that something will remain in state 3 from one period to the next.
D) the probabilities are usually determined empirically.
E) All of the above
Correct Answer:

Verified
Correct Answer:
Verified
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