Simulating a Markov Chain
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Hello,
Is there anybody to help me about simulating a Markov Chain? The situation is like that; I have a transition probability matrix 5x5. I want to simulate it 100 steps by using randam values and initial step will be 3rd step.
Transition probabilty matrix is shown below;
I need an answer urgently. Could you kindly please help me about this point. Best regards, Ahat.
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