Markov Processes in Management Science
Markov process models are used to study how systems behave over time periods. As an example, assume that we have a group of consumers. Each consumer purchases a product every week. There are only two brands of the product – A and B. We can set up a model to find out the share of the market that...
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| Format: | Article |
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2010
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| Online Access: | http://ms.appliedprobability.org/data/files/feature%20articles/43-2-6.pdf http://eprints.utp.edu.my/4227/ |
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