In a Markov chain, the probability that the process will be ina particular state at any time period depends O on the state n only tao nmedatuly peeedrg tene petts O none of the atove aternatives n conet Arwwet onty on the stateen the mnedalely preceding tume perd O on the staters in al the precedng tme penods Which of the following statements is true? Simulation models are often used for decision making under certainty. O Uniform probability distributions cau eliher be diverete or conlinuous O one effective way to reduce the effect of initial conditions is increasing the sample size O Random numbers assigned to a probability distribution must be successive One way to increase the probability of identitying the optimal decision when using a simulation is to: O include more random variables in the simulation O increase the number of iterations of the simulation use a discrete instead of continuous random variable change the assignment of the random numbers.

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
icon
Related questions
Question

5

In a Markov chain, the probability that the process will be ina particular state
at any time period depends
O on the state n only tao nmedatuly peeetrg teme petts
O none of the atove atermatives n cot Arwwot
onty on the stateen the mmedalely preceding tume perod
O on the staters in al the precedng tme penods
Which of the following statements is true?
Simulation models are often used for decision making under certainty.
O Unlform probability distributions can eltber be diserete or conlinuous
O one effective way to reduce the effect of initial conditions is increasing the sample size
O Random numbers assigned to a probability distribution must be successive
One way to increase the probability of identitying the optimal decision when
using a simulation is to:
O include more random variables in the simulation
O increase the number of iterations of the simulation
use a discrete instead of continuous random variable
change the assignment of the random numbers.
Transcribed Image Text:In a Markov chain, the probability that the process will be ina particular state at any time period depends O on the state n only tao nmedatuly peeetrg teme petts O none of the atove atermatives n cot Arwwot onty on the stateen the mmedalely preceding tume perod O on the staters in al the precedng tme penods Which of the following statements is true? Simulation models are often used for decision making under certainty. O Unlform probability distributions can eltber be diserete or conlinuous O one effective way to reduce the effect of initial conditions is increasing the sample size O Random numbers assigned to a probability distribution must be successive One way to increase the probability of identitying the optimal decision when using a simulation is to: O include more random variables in the simulation O increase the number of iterations of the simulation use a discrete instead of continuous random variable change the assignment of the random numbers.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON
A First Course in Probability
A First Course in Probability
Probability
ISBN:
9780321794772
Author:
Sheldon Ross
Publisher:
PEARSON