CAS Exam MAS-I Spring 2018, Question 10
Study guide: Exam MAS-I
You are given the following Markov chain transition probability matrix:
P = \begin{bmatrix}
0.7 & 0.3 & 0.0 & 0.0 & 0.0 \\
0.4 & 0.6 & 0.0 & 0.0 & 0.0 \\
0.5 & 0.5 & 0.0 & 0.0 & 0.0 \\
0.4 & 0.2 & 0.1 & 0.3 & 0.0 \\
0.0 & 0.0 & 0.0 & 0.0 & 1.0
\end{bmatrix}Determine the number of classes of states in this Markov chain.
- A) 1
- B) 2
- C) 3
- D) 4
- E) 5
Answer this question and see the worked solution