SECTION A Question 1. Explain why finding an equilibrium distribution might help one to analyse a Markov chain model? Consider the following Markov chain model of an internet retailer’s marketing database. The state represents the classification of a customer at the beginning of a month. The set of pos
SECTION A Question 1. Explain why finding an equilibrium distribution might help one to analyse a Markov chain model? Consider the following Markov chain…