Question

Explain the markov model process, its use in making business decision​

Answer 1

Answer:

The Markov analysis process involves defining the likelihood of a future action, given the current state of a variable. Once the probabilities of future actions at each state are determined, a decision tree can be drawn, and the likelihood of a result can be calculated

Answer 2

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The Markov analysis process involves defining the likelihood of a future action, given the current state of a variable. Once the probabilities of future actions at each state are determined, a decision tree can be drawn, and the likelihood of a result can be calculated.