Markov Analysis

Introduction to Management Science, 10e (Taylor)
Module F: Markov Analysis

1) Markov analysis is a probabilistic technique.
Answer: TRUE
Diff: 1
Main Heading: The Characteristics of Markov Analysis
Key words: Markov analysis, probabilistic technique

2) Markov analysis is not a probabilistic technique.
Answer: FALSE
Diff: 1
Main Heading: The Characteristics of Markov Analysis
Key words: Markov analysis

3) Markov analysis does not provide a recommended decision.
Answer: TRUE
Diff: 1
Main Heading: The Characteristics of Markov Analysis
Key words: Markov analysis

4) Markov analysis provides a recommended decision.
Answer: FALSE
Diff: 1
Main Heading: The Characteristics of Markov Analysis
Key words: Markov analysis

5) Markov analysis is not an optimization technique.
Answer: TRUE
Diff: 1
Main Heading: The Characteristics of Markov Analysis
Key words: Markov analysis

6) Markov analysis is an optimization technique.
Answer: FALSE
Diff: 1
Main Heading: The Characteristics of Markov Analysis
Key words: Markov analysis

7) Markov analysis is a descriptive technique that results in probabilistic information.
Answer: TRUE
Diff: 2
Main Heading: The Characteristics of Markov Analysis
Key words: Markov analysis

8) Markov analysis is not a descriptive technique that results in probabilistic information.
Answer: FALSE
Diff: 2
Main Heading: The Characteristics of Markov Analysis
Key words: Markov analysis

9) The brand-switching problem analyzes the probability of customers' changing brands of a product over time.
Answer: TRUE
Diff: 2
Main Heading: The Characteristics of Markov Analysis
Key words: brand-switching problem, Markov analysis

10) Markov analysis provides information on the probability of customers switching from one brand to one or more other brands.
Answer: TRUE
Diff: 1
Main Heading: The Characteristics of Markov Analysis
Key words: brand-switching problem, Markov