Question 1
Which of the following best describes a Markov chain?
Question 2
In a discrete-time Markov chain, what does the transition probability $P_{ij}$ represent?
Question 3
Which of the following is a key characteristic of a Poisson process?
Question 4
If the inter-arrival times of a process are independent and identically distributed (i.i.d.) exponential random variables, what type of process is it?
Question 5
What is the primary focus of renewal theory?
