Markov Process Add-in |

## Example## Rate Matrix## Embedded Markov Chain## Economics## Steady State## Simulate |
The Markov Process Add-in performs computations
for continuous time Markov Processes. When the add-in is installed, the
menu items on the left are added to the OR_MS menu.
When one of these options is chosen, the worksheet associated with the specified computation is constructed automatically. The MPMatrix entry must be selected before any of the others are available. Some results associated with a Markov Process can be had by analyzing the associated embedded Markov Chain. When the Markov Chain Add-in is installed, this is easily accomplished. The MPMatrix worksheet constructs the transition matrix for the embedded Markov Chain for use by the Markov Chain Add-in. The MPRelink Buttons command is useful when opening a workbook containing
a Markov Process model in a different computer than the one in which the
model was created. The command deletes the old buttons are replaces them
with buttons linked to the add-in in the new computer. |

To illustrate the elements of the stochastic process model, we use
the example of a single Automated Teller Machine (ATM) located in foyer
of a bank. The ATM performs banking operations for people arriving for
service. The machine is used by only one person at a time, and that
person said to be We want to perform an analysis to determine statistical measures that describe the number of people in the system, the waiting time for customers, the efficiency of the ATM machine, and the number of customers not served because there is no room in the foyer. We intend to use these statistics to guide managers in design questions such as whether another ATM should be installed, or whether the size of the foyer should be expanded. |

Operations Research Models and Methods

by Paul A. Jensen and Jon Bard, University of Texas, Copyright by the Authors