Which of the Following Is Not an Assumption of Markov

question 41

Multiple Choice

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

• 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.

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Definitions:

Plantwide Predetermined

This typically involves a single overhead rate calculated for an entire manufacturing plant, used to allocate overhead costs to products.

Manufacturing Overhead

Indirect factory-related costs that are incurred when producing a product, such as the cost of utilities, maintenance, and salaries of supervisors.

Machine-Hours

A measure of production output or activity in terms of the total hours that machines are operated within a specific period.

Predetermined Overhead Rate

A rate used to allocate manufacturing overhead costs to products or job orders, calculated before the production period based on estimated costs.