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Question: A fair die is tossed repeatedly. The maximum of the first n outcomes is denoted by Xn. Is {Xn : n = 1, 2,...} a Markov chain? Why or why not? If it is a Markov chain, calculate its transition probability matrix, specify the classes, and determine which classes are recurrent and which are transient. The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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Category:- Statistics and Probability
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