Abstract
<p class="MsoNormal" style="text-align: justify; margin: 0in 44.1pt 0pt 0.5in; mso-layout-grid-align: none;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">It is well known that a Markov process whose transition matrix is regular approaches a steady-state distribution, or equilibrium distribution. To find these steady-state probabilities requires the solution of a system of linear homogenous equations. However, the matrix of this system is singular and thus the system has infinitely many solutions. This obstacle is overcome by replacing one of the equations of the linear homogenous system by the linear non-homogeneous equation that simply expresses the requirement that the steady-state probabilities sum to one. But which equation of the original system should be chosen to be the one replaced. This brief article demonstrates that any of the equations of the original linear system can be selected as the one to be replaced; no matter which one is selected for replacement; the revised linear system will have the same unique solution.</span></span></p>
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Journal of Business & Economics Research (JBER)
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
