How to make transition probability matrix in this states of Markov chain?

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chaaru datta on 30 Nov 2022

Edited: chaaru datta on 30 Nov 2022

Hello all, I want to build the Markov Chain (MC) and hence the Transition Probability Matrix (TPM) for the given statespace.

Statespace = {3.3*10^5, 1.4*10^6,2.4*10^6,3.5*10^6,4.6*10^6,5.7*10^6}.

I know that Row sum of a TPM need to be 1, but I am not getting how to build the TPM.

Any help in this regard will be highly appreciated.

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