For a series of dependent trials, the probability of success on any given trial is given by (k + 1)/(k + 3), where k is the number of successes in the previous three trials. Define a state description and a set of transition probabilities which allow this process to be described as a Markov chain. Draw the state transition diagram. Try to use the smallest possible number of states.

For a series of dependent trials, the probability of success on any given trial is given by (k + 1M0: + 3), where k is the number of successes in the previous three trials. Define a state description and a set of transition probabilities which allow this process to be described as a Markov chain. Draw the state transition diagram. Try to use the smallest possible number of states