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Operations Research Markov Theory

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Model #1 - Equilibrium Conditions Model

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1. Question 1: In Markov theory, what does the equilibrium condition represent?
A) A state where the system is continuously changing B) A state where the probabilities of being in each state remain constant over time C) A state where the system has no transitions between states D) A state where the probabilities of all states are zero
2. Question 2: In a Markov process, what is the main characteristic of the steady-state (equilibrium) probabilities?
A) They depend on the initial state of the system B) They change with each time period C) They are independent of the initial state and remain constant over time D) They are always equal for all states
3. Question 3: In a Markov chain, the long-run probability of being in a specific state is known as the:
A) Initial probability B) Transition probability C) Steady-state probability D) Absorbing probability
4. Question 4: Which of the following conditions must be satisfied for a Markov chain to reach equilibrium?
A) All transition probabilities must be zero B) The sum of the transition probabilities from any state must equal one C) The system must have an infinite number of states D) The initial probabilities must be uniform across all states
5. Question 5: What is the balance equation used for in Markov processes?
A) To calculate the total number of states B) To determine the number of transitions between states C) To describe the condition where the probability flow into a state equals the probability flow out of that state D) To compute the initial probabilities of the system