This option simulates the Markov Process using Monte-Carlo
simulation. The *Start* button allows entry of the initial
state. The simulation proceeds with sets of 20 transitions.
Both time for the transition and the new state are simulated
using the random numbers obtained from the Excel internal random
number generator. The *More* button provides additional
sets of 20 transitions. The *Chart* buttons construct graphs
of the various quantities. The simulation illustrates the dynamic
nature of the Markov process. |