If an Absorbing State Exists,then the Probability That a Unit

question 15

True/False

If an absorbing state exists,then the probability that a unit will ultimately move into the absorbing state is given by the steady-state probability.

---

Definitions:

Bargain Purchase Option

A lease agreement provision allowing the lessee to purchase the leased asset at the end of the lease term at a price significantly lower than the expected fair market value.

Fair Value

An estimate of the market value of an asset or liability based on current prices in active markets for similar assets or liabilities.

Lessee

A Lessee is a person or entity who leases an asset from another, the lessor, under a lease agreement.

Lessor

A lessor is the party that leases or rents a property or asset to another party, known as the lessee.