Question 1

A transition matrix is ________ when it moves back and forth between states.

Accepted Answer

cyclic

Question 2

The only car dealership in a community stocks cars from two manufacturers, Fret and Cessy. The following transition matrix shows the probabilities of a customer purchasing each brand of car in the next year given that he or she purchased that car in the current year. $$\begin{array} { l c c c } 
\text { From } / & \text { To } & \text { Fret } & \text { Cessy } \
\hline \text { Fret } & & .7 & .3 \
\text { Cessy } & & .4 & .6 \
\hline
\end{array}$$ Given that a customer purchased the brand Fret in the present year (year 1), determine the probability that a customer will purchase Cessy in year 3.

Accepted Answer

A)  .7 
B)  .61 
C)  .39 
D)  .21 
E)  .18 
A)  .7 
B)  .61 
C)  .39 
D)  .21 
E)  .18 C

Question 3

Markov analysis is a ________ technique that results in ________ information.

Accepted Answer

A)  descriptive, descriptive 
B)  probabilistic, descriptive 
C)  descriptive, probabilistic 
D)  probabilistic, probabilistic 
A)  descriptive, descriptive 
B)  probabilistic, descriptive 
C)  descriptive, probabilistic 
D)  probabilistic, probabilistic C

Question 4

A Markov process has the following transition matrix:
 $$\begin{array} { c c c } 
& \text { A } & \text { B } \
\text { A } & 0.65 & 0.35 \
\text { B } & 0.45 & 0.55
\end{array}$$ What are the steady state probabilities?

Accepted Answer

The answer of A Markov process has the following transition...

Question 5

An assumption of Markov analysis is that the probability of moving from a state to all other states sum to ________.

Accepted Answer

The answer of An assumption of Markov analysis is that...

Question 6

Markov analysis does not provide a recommended decision.

Accepted Answer

A) True 
 B)False

Question 7

The ________ is where the system is at a point in time.

Accepted Answer

A)  transition probability 
B)  state of the system 
C)  steady-state probabilities 
D)  transition matrix 
A)  transition probability 
B)  state of the system 
C)  steady-state probabilities 
D)  transition matrix

Question 8

The only car dealership in a community stocks cars from two manufacturers, Fret and Cessy. The following transition matrix shows the probabilities of a customer purchasing each brand of car in the next year given that he or she purchased that car in the current year. $$\begin{array} { l c c c } 
\text { From } / & \text { To } & \text { Fret } & \text { Cessy } \
\hline \text { Fret } & & .7 & .3 \
\text { Cessy } & & .4 & .6 \
\hline
\end{array}$$ 
Determine the steady state probabilities for Fret and Cessy.

Accepted Answer

The answer of The only car dealership in a community...

Question 9

Markov analysis ________ a recommended decision.

Accepted Answer

A)  does not provide 
B)  always provides 
C)  sometimes provides 
D)  rarely provides 
A)  does not provide 
B)  always provides 
C)  sometimes provides 
D)  rarely provides

Question 10

The only car dealership in a community stocks cars from two manufacturers, Fret and Cessy. The following transition matrix shows the probabilities of a customer purchasing each brand of car in the next year given that he or she purchased that car in the current year. $$\begin{array} { l c c c } 
\text { From } / & \text { To } & \text { Fret } & \text { Cessy } \
\hline \text { Fret } & & .7 & .3 \
\text { Cessy } & & .4 & .6 \
\hline
\end{array}$$ Determine the steady state probabilities for Fret and Cessy.

Accepted Answer

A)  .875, .125 
B)  .645, .355 
C)  .621, .379 
D)  .571, .429 
E) .55, .45 
A)  .875, .125 
B)  .645, .355 
C)  .621, .379 
D)  .571, .429 
E) .55, .45

Question 11

Participants eligible for a retraining program can be in one of four states:
A - not in the training program
B - discharged
C - in training
D - employed
Given the following transition matrix, determine the fundamental matrix. $$\begin{array} { r r r r r } 
& \mathrm { A } &{ \text { B } } & \text { C } & \text { D } \
\hline \mathrm { A } & .1 & .6 & .3 & 0 \
\mathrm {~B} & 0 & 1.0 & 0 & 0 \
\mathrm { C } & .2 & .2 & .5 & .1 \
\mathrm { D } & 0 & 0 & 0 & 1.0
\end{array}$$

Accepted Answer

The answer of Participants eligible for a retraining program can...

Question 12

The only car dealership in a community stocks cars from two manufacturers, Fret and Cessy. The following transition matrix shows the probabilities of a customer purchasing each brand of car in the next year given that he or she purchased that car in the current year. $$\begin{array} { l c c c } 
\text { From } / & \text { To } & \text { Fret } & \text { Cessy } \
\hline \text { Fret } & & .7 & .3 \
\text { Cessy } & & .4 & .6 \
\hline
\end{array}$$ 
Given that a customer purchased the brand Cessy in the present year (year 1), determine the probability that a customer will purchase Cessy in year 3.

Accepted Answer

The answer of The only car dealership in a community...

Question 13

The state of the system is where the system is at a point in time.

Accepted Answer

A) True 
 B)False

Question 14

If a Markov process contains an absorbing state, the process will eventually terminate in the absorbing state.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is not an assumption or a characteristic of a Markov Process?

Accepted Answer

A)  The transition probabilities are the same for any customer. 
B)  The transition probabilities will remain constant over time. 
C)  The probability of being in a particular state at any one time period depends only on the state immediately preceding it. 
D)  In a transition matrix, sum of the row probabilities must sum to one. 
E)  In a transition matrix, sum of the column probabilities must sum to one. 
A)  The transition probabilities are the same for any customer. 
B)  The transition probabilities will remain constant over time. 
C)  The probability of being in a particular state at any one time period depends only on the state immediately preceding it. 
D)  In a transition matrix, sum of the row probabilities must sum to one. 
E)  In a transition matrix, sum of the column probabilities must sum to one.

Question 16

An assumption of Markov analysis is that the probabilities are ________ over time.

Accepted Answer

The answer of An assumption of Markov analysis is that...

Question 17

In Markov analysis, once the system moves into a(n) ________ state, it is trapped and cannot leave.

Accepted Answer

The answer of In Markov analysis, once the system moves...

Question 18

A Markov assumption is that the probabilities apply to ________ system participants.

Accepted Answer

A)  none of the 
B)  the major 
C)  some 
D)  all 
A)  none of the 
B)  the major 
C)  some 
D)  all

Question 19

In Markov analysis, once the system leaves a(n) ________ state, it will never return.

Accepted Answer

The answer of In Markov analysis, once the system leaves...

Question 20

A common application of Markov analysis is ________.

Accepted Answer

brand switching, mac

A transition matrix is ________ when it moves back and forth between states.

Markov analysis is a technique that results in information.

A Markov process has the following transition matrix: A B A 0.65 0.35 B 0.45 0.55 What are the steady state probabilities?

An assumption of Markov analysis is that the probability of moving from a state to all other states sum to ________.

Markov analysis does not provide a recommended decision.

The ________ is where the system is at a point in time.

Markov analysis ________ a recommended decision.

Participants eligible for a retraining program can be in one of four states: A - not in the training program B - discharged C - in training D - employed Given the following transition matrix, determine the fundamental matrix. B C D .1 .6 .3 0 0 1.0 0 0 .2 .2 .5 .1 0 0 0 1.0

The state of the system is where the system is at a point in time.

If a Markov process contains an absorbing state, the process will eventually terminate in the absorbing state.

Which of the following is not an assumption or a characteristic of a Markov Process?

An assumption of Markov analysis is that the probabilities are ________ over time.

In Markov analysis, once the system moves into a(n) ________ state, it is trapped and cannot leave.

A Markov assumption is that the probabilities apply to ________ system participants.

In Markov analysis, once the system leaves a(n) ________ state, it will never return.

A common application of Markov analysis is ________.

Management Science

Linear Programming: Model Formulation and Graphical Solution

Linear Programming: Computer Solution and Sensitivity Analysis

Linear Programming: Modeling Examples

Integer Programming

Transportation, Transshipment, and Assignment Problems

Network Flow Models

Project Management

Multicriteria Decision Making

Nonlinear Programming

Probability and Statistics

Decision Analysis

Queuing Analysis

Simulation

Forecasting

Inventory Management

the Simplex Solution Method

Transportation and Assignment Solution Methods

Integer Programming: the Branch and Bound Method

Nonlinear Programming: Solution Techniques

Game Theory

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Exam 22: Markov Analysis

A transition matrix is ________ when it moves back and forth between states.

Markov analysis is a ________ technique that results in ________ information.

A Markov process has the following transition matrix: A B A 0.65 0.35 B 0.45 0.55 What are the steady state probabilities?

An assumption of Markov analysis is that the probability of moving from a state to all other states sum to ________.

Markov analysis does not provide a recommended decision.

The ________ is where the system is at a point in time.

Markov analysis ________ a recommended decision.

Participants eligible for a retraining program can be in one of four states: A - not in the training program B - discharged C - in training D - employed Given the following transition matrix, determine the fundamental matrix. B C D .1 .6 .3 0 0 1.0 0 0 .2 .2 .5 .1 0 0 0 1.0

The state of the system is where the system is at a point in time.

If a Markov process contains an absorbing state, the process will eventually terminate in the absorbing state.

Which of the following is not an assumption or a characteristic of a Markov Process?

An assumption of Markov analysis is that the probabilities are ________ over time.

In Markov analysis, once the system moves into a(n) ________ state, it is trapped and cannot leave.

A Markov assumption is that the probabilities apply to ________ system participants.

In Markov analysis, once the system leaves a(n) ________ state, it will never return.

A common application of Markov analysis is ________.

Management Science

Linear Programming: Model Formulation and Graphical Solution

Linear Programming: Computer Solution and Sensitivity Analysis

Linear Programming: Modeling Examples

Integer Programming

Transportation, Transshipment, and Assignment Problems

Network Flow Models

Project Management

Multicriteria Decision Making

Nonlinear Programming

Probability and Statistics

Decision Analysis

Queuing Analysis

Simulation

Forecasting

Inventory Management

the Simplex Solution Method

Transportation and Assignment Solution Methods

Integer Programming: the Branch and Bound Method

Nonlinear Programming: Solution Techniques

Game Theory

Filters

Markov analysis is a technique that results in information.