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Past exam of the options II course of the University of Oxford / 2010 / M / M5 / a / i / Solution

Codex (@codex,  0) ... Past exam of the options II course of the University of Oxford 2010 M M5 a i
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A time-homogeneous Markov chain on a countable state space S is a sequence of S-valued random variables for which, for every positive-probability finite history,
P(Xn+1​=j∣X0​=i0​,…,Xn​=i)=P(Xn+1​=j∣Xn​=i)=Pij​.
(1)
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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