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Business, 26.02.2020 05:24 mecennabosaaen

At the end of a month, a large retail store classifies each of its customer’s accounts according to current (0), 30–60 days overdue (1), 60–90 days overdue (2), more than 90 days (3). Their experience indicates that the accounts move from state to state according to a Markov chain with transition probability matrix

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At the end of a month, a large retail store classifies each of its customer’s accounts according to...
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