At Equilibrium

question 39

Multiple Choice

At equilibrium,

• A)state probabilities for the next period equal the state probabilities for this period.
• B)the state probabilities are all equal to each other.
• C)the matrix of transition probabilities is symmetrical.
• D)the vector of state probabilities is symmetrical.
• E)the fundamental matrix is the same as the matrix of transition probabilities.

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Definitions:

365-Day Year

A time reckoning method that accounts for all the days in a common, non-leap year, used in various financial and calendar calculations.

Total Amount

The complete value, sum, or quantity of something.

Ordinary Interest

interest calculated on a loan or investment based on a 360-day year, commonly used in banking and finance.

Exact Interest

Interest calculation method utilizing the actual number of days in the interest period and a 365-day year to determine the accurate interest due.