PJO: On multi-dimensional Markov chain models



			Volume 3, Number 2, May 2007, pp. 235-243
			Wai-Ki Ching, Shu-Qin Zhang and Michael K. Ng
			Key words:
		high dimensional Markov chains, categorical data sequences, demand prediction
Mathematices Subject Classification: 65C20, 65F10
	References


	Abstract:
	Markov chain models are commonly used to model categorical data sequences. In this paper, we propose a multi-dimensional Markov chain model for modeling high dimensional categorical data sequences. In particular, the model is practical when there are limited data available. We then test the model with some practical sales demand data. Numerical results indicate the proposed model when compared to the existing models has comparable performance but has much less number of model parameters.