Applications of markov chains, Managerial Accounting

Assignment Help:

Applications of Markov Chains

They are a particular class of probabilistic models and their applications include analysis of:

  • Inventory systems
  • Replacement and maintenance policies for machines
  • Brand loyalty in marketing
  • Time series of economic data such as movement of stocks
  • Accounts receivable in accounting
  • Expected payouts of life insurance policies etc.

Related Discussions:- Applications of markov chains

Explain the concepts of costs, Explain the concepts of costs. A cost ac...

Explain the concepts of costs. A cost accountant is mainly concerned with the following cost concepts. 1. Concept of objectives: it is this concept that gives direction to

Interest rate and dividend, Compute the ‘fair' value of the two nearest to ...

Compute the ‘fair' value of the two nearest to expiration futures contracts on the Hang - Seng Index (HSI) using HSI as the underlying asset Answer the following questions: a

What are the 7 feed from control to planning, 7 feed from control to planni...

7 feed from control to planning It is realized these days more than even before that management control is primarily a human activity which should focus on how to help individu

Case law & study, You are charged with describing the important considerati...

You are charged with describing the important considerations in the decision-making process to upper management. In your response, be sure to include the following: • A descript

Introduction to Management Accounting, What is Costco''s Financial decision...

What is Costco''s Financial decisions, Centralized or decentralized?

Traditional and activity based costing, Explain what is meant by traditiona...

Explain what is meant by traditional costing system. Support with example.

Two jobs during the period, The Work in Process account for Monty's Company...

The Work in Process account for Monty's Company contained the following entries: Work in Process Account Debit of $40,000 for direct raw materials Debit of $60,000 for direct labor

Types of factoring, Types of Factoring The factoring facilities can be ...

Types of Factoring The factoring facilities can be largely categorized in four groups that are as follows: 1)   Full service non-recourse (old line) 2)   Full service rec

Ratio Analysis., X ltd. has a current ratio of 4.5:1 and acid test ratio of...

X ltd. has a current ratio of 4.5:1 and acid test ratio of 3:1. If its inventory is Rs. 24000, find out its current liabilities.

Characterize the short run production function of a firm, Question 1: (...

Question 1: (a) ‘The car industry is characterized by broad products differentiation' Analyse the long run situation of a car producer, commenting on profitability and efficien

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