A Markov Process Has the Following Transition Matrix $$\begin{array} { c c c } & \text { A } & \text { B } \\\text { A } & 0.65 & 0.35 \\\text { B } & 0.45 & 0.55\end{array}$$

question 4

Short Answer

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?

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Definitions:

Level of Significance

A predetermined threshold in hypothesis testing, below which the null hypothesis is rejected, indicating statistical significance.

Null Hypothesis

A hypothesis that assumes no significant difference or relationship exists in the general population from which a sample is drawn.

Variance

A measure of the dispersion of a set of data points around their mean; the square of the standard deviation.

Level of Significance

The probability threshold below which the null hypothesis is rejected in hypothesis testing, typically denoted by alpha (α).