Solution

ID: past-exam-of-the-options-ii-course-of-the-university-of-oxford/2010/m/m5/a/i/solution

A time-homogeneous Markov chain on a countable state space is a sequence of -valued random variables for which, for every positive-probability finite history,
Thus the conditional next-step law depends only on the current state, and the transition probabilities do not depend on time.

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