Markov Chain (transition matrix) Hey can anyone please help me obtain the transition of the markov chain with states being the number of projects the architect has in hand at the beginning of a month. Quote:

Re: Markov Chain (transition matrix) Try writing everything in terms of what can happen, with what probabilities. For instance, if and then: no new projects are acquired, prob. 0.5. a new project is acquired, prob. 0.5 not possible  only one project can be acquired in any month, prob. 0 a project is finished and no new projects are acquired, prob. 0.5 x 0.5 ? ? etc. Remember that for any where is the state space. 
Re: Markov Chain (transition matrix) Thank you very much for your reply. And I can see what you're trying to say, I understand it now, thanks again. 
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