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stochastic process Exercise 3. Let (Xn)n be a Markov chain with finite state space n = {1, ..., m} and with transition matrix given by

stochastic process

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Exercise 3. Let (Xn)n be a Markov chain with finite state space n = {1, ..., m} and with transition matrix given by Pi,i-1 = qi Vi, 'I 0 with pi + qi

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