In a three-state Markov chain with states 0, 1, 2 and starting in 0, what is the formula for the expected number of steps to return to state 0?

Master the Casualty Actuarial Society MAS-1 Exam with flashcards and multiple choice questions, hints, and explanations. Get prepared for your exam!

Multiple Choice

In a three-state Markov chain with states 0, 1, 2 and starting in 0, what is the formula for the expected number of steps to return to state 0?

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