Reconsider Prob. 16.2-2. Suppose now that whether or not the stock goes up tomorrow depends upon whether

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Reconsider Prob. 16.2-2.

Suppose now that whether or not the stock goes up tomorrow depends upon whether it increased today, yesterday, and the day before yesterday. Can this problem be formulated as a Markov chain? If so, what are the possible states?

Explain why these states give the process the Markovian property whereas the states in Prob. 16.2-2 do not.

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Introduction To Operations Research

ISBN: 9780072321692

7th Edition

Authors: Frederick S. Hillier, Gerald J. Lieberman

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Question Posted: Jul 27, 2024 10:01 AM

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Reconsider Prob. 16.2-2. Suppose now that whether or not the stock goes up tomorrow depends upon whether

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Introduction To Operations Research

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