Higher-order Markov Chains
In this chapter, a higher-order Markov chain model is proposed with estimation methods for the model parameters. The higher-order Markov chain model is then applied to a number of applications such as DNA sequences, sales demand predictions and web page predictions, Newsboy’s problem. Further extension of the model is also discussed.
KeywordsLinear Programming Problem Markov Chain Model Transition Probability Matrix Sales Volume Initial State Vector
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