SEMESTER 2 EXAMINATION 2021/22MATH2012 STOCHASTIC PROCESSES1. A Markov Chain {Xn : N ≥ 0} On The State Space S = {0, 1, 2} Has The Following One-Step Transition Probability Matrixlet P(N)Be The Probability Distribution Of Xn, And P(N)Be The N-Step Transition Probability Matrix.(A) Find P(3). [4 Mark

SEMESTER 2 EXAMINATION 2019/20MATH2012 STOCHASTIC PROCESSES1. A Markov Chain {Xn : N ≥ 0} On The State Space S = {1, 2, 3, 4, 5} Has The Following Transition Probability Matrixlet P(N)Denote The Probability Distribution Of Xn, N = 0, 1, 2, . . ..(A) Draw The Transition Diagram Of This Markov Chain.