I have a poverty dataset with rows containing different places and different years and together with the poverty percentages in those places. I have to predict the poverty percentage for next year. (Note: 50% poverty means 50% of the population is under the poverty line)
Overall I have over a thousand rows. But I don't have enough data points for each of the places. Actually, the max data point I have for each of the places is only 2.
Example of what the data looks like:
Place Year Surveyed Population Poverty X 2006 100 50% X 2012 100 52%
I wish to predict whether Place X will still be in the same state in year 2018. Will Markov Chain work here? If so, what are my states?