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16.2-4. Reconsider Prob. 16.2-3. .Suppose now that whether or not the stock goes up tomorrow depends upon whether it increased to- day, yesterday, and the

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16.2-4. Reconsider Prob. 16.2-3. .Suppose now that whether or not the stock goes up tomorrow depends upon whether it increased to- day, 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 propeny whereas the states in Prob. 16.2-3 do not. 1' 1-1 Dpnnneidpr Drnlw 1F; 7

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