MS12-TB16

# MS12-TB16 - 16 Markov Processes MULTIPLE CHOICE 1. In...

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16 Markov Processes MULTIPLE CHOICE 1. In Markov analysis, we are concerned with the probability that the a. state is part of a system. b. system is in a particular state at a given time. c. time has reached a steady state. d. transition will occur. ANSWER: b TOPIC: Introduction 2. For a situation with weekly dining at either an Italian or Mexican restaurant, a. the weekly visit is the trial and the restaurant is the state. b. the weekly visit is the state and the restaurant is the trial. c. the weekly visit is the trend and the restaurant is the transition. d. the weekly visit is the transition and the restaurant is the trend. ANSWER: a TOPIC: Market share analysis 3. A transition probability describes a. the probability of a success in repeated, independent trials. b. the probability a system in a particular state now will be in a specific state next period. c. the probability of reaching an absorbing state. d. None of the alternatives is correct. ANSWER: b TOPIC: Introduction 4. The probability of going from state 1 in period 2 to state 4 in period 3 is a. p 12 b. p 23 c. p 14 d. p 43 ANSWER: c TOPIC: Market share analysis 5. The probability that a system is in a particular state after a large number of periods is a. independent of the beginning state of the system. b. dependent on the beginning state of the system. c. equal to one half. d. the same for every ending system. ANSWER: a TOPIC: Market share analysis 1

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