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Excel Markov Chain

This document discusses Markov chains, which are a mathematical system that undergoes transitions from one state to another according to certain probabilities. It provides instructions on defining a 3-state Markov chain by inputting initial probabilities for each state and transition probabilities between each state. It then describes how to execute the Markov chain to output results including the absolute, steady state, and mean return time for each state.

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harpocratess7188
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78 views

Excel Markov Chain

This document discusses Markov chains, which are a mathematical system that undergoes transitions from one state to another according to certain probabilities. It provides instructions on defining a 3-state Markov chain by inputting initial probabilities for each state and transition probabilities between each state. It then describes how to execute the Markov chain to output results including the absolute, steady state, and mean return time for each state.

Uploaded by

harpocratess7188
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
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Markov Chains

Step 1: Number of states = 3 Step 2a: Initial probabilities: You may overwrite state codes in ROW 3 then
Step 2: Codes: 1 2 3
Click to enter Markov chain
1 0 0
Step 3: Number of transitions= 8 Step 2b: Input Markov chain:
Step 4: 1 2 3
Click to execute
1 0.3 0.6 0.1
Output Results 2 0.1 0.6 0.3
Absolute Steady Mean return 3 0.05 0.4 0.55
State (8-step) state time
hains
codes in ROW 3 then click here

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