Steady state condition, Managerial Accounting

Assignment Help:

Steady state condition

In many cases, the Markov process will converge to a steady state or equilibrium.

In general, as number of transitions `n' increase, the state values tend to stabilize at steady state. This is a logical occurrence, since the present state tends to lose significance.

Steady State vector:

A steady vector is given in terms of decimal proportions as

2038_formula.jpg

Subject to X + Y + Z = 1

i.e. once a steady state is arrived at, multiplication of a state condition by the transition probabilities does not change its state condition.

 


Related Discussions:- Steady state condition

Explain discretionary fixed costs and semi variable costs, Discretionary fi...

Discretionary fixed costs and Semi variable costs Discretionary fixed costs are those which are incurred as a result of management discretion. These costs have two importan

Costs, Recommend whether marginal or absorption costing should be use for i...

Recommend whether marginal or absorption costing should be use for internal monthly reporting

How will you develop its presentation to appropriate markets, we want to re...

we want to realize our job dreams, we need to think about ourselves as products to be marketed, and in order to do this, we need to contextualize ourselves within the five Ps of ma

Explain out of pocket cost, Explain Out of pocket cost A cost which wil...

Explain Out of pocket cost A cost which will have to be paid to outsides as against cross such as depreciation, which do not require any cash payment this cost is relevant in t

Define case study of orion financial management, Case study of Orion Financ...

Case study of Orion Financial Management - Portfolio Management? Maria Gilbert is a principal in the company of Orion Financial Management. For 20 years she was chief investm

Strategic plan, How to write introduction on strategy plan

How to write introduction on strategy plan

Transportation model table, Transportation model Table A more compact m...

Transportation model Table A more compact method for representing the transportation model than the linear equations is to use what we call the transportation tableau. It is a

Permanent abandonment of premises, PERMANENT ABANDONMENT OF PREMISES A ...

PERMANENT ABANDONMENT OF PREMISES A company may find it more profitable to concentrate its output in some factories by closing down others.  The decision, in this instance, is

Treasury management, Treasury management is explained as "the corporate han...

Treasury management is explained as "the corporate handling of all financial matters, the production of external and internal funds for business, the management of cash flows and c

International transfer pricing-compliance and documentation, International ...

International transfer pricing Transfer pricing is a perennial issue, within the international tax community (Richard Casna, Accounting and Business, in the year February 1988)

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd