Statistics IITU Board 2082
Define stochastic process. In a town each day is either sunny or rainy. A sunny day is followed by another sunny day with probability 0.8, whereas a rainy is followed by sunny day is with…
5Define stochastic process. In a town each day is either sunny or rainy. A sunny day is followed by another sunny day with probability 0.8, whereas a rainy is followed by sunny day is with probability 0.4. If it rains on Sunday, make forecast for Monday and Tuesday.
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