Observations

• Markov property: If the present state of the system is known, the future of the system is independent of its past.
  
  
• Since the times and state space are discrete, this Markov process is a discrete-time Markov chain (DTMC).
  
  
• This DTMC is time-homogeneous, hence completely determined by its initial distribution and transition probability matrix P.
  
  
• irreducible, aperiodic

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