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Scholars Journal of Physics, Mathematics and Statistics | Volume-7 | Issue-07
Application of Markov Chain to the Prediction of Consumer Price Index
Song Qianhong
Published: July 11, 2020 | 127 161
DOI: 10.36347/sjpms.2020.v07i07.002
Pages: 93-95
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Abstract
This paper mainly uses the prediction method of Markov chain to predict the consumer price index. Taking the national consumer price index data from 1989 to 2005 as an example, this paper forecasts the consumer price index in three steps to illustrate the specific application of Markov chain method. Keywords: Markov chain; Consumer price index; Transfer matrix.