describe what is meant by the steady-state probabilities.

Order Description
1. Learn about the types of problems that can be modeled as Markov processes.

2. Understand the Markov process approach to the market share or brand loyalty problem.

3. use the transition probabilities for specific problems.

4. Know what is meant by the steady-state probabilities.

5 Know how to solve Markov processes models having absorbing states.
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