AMS 309 Lecture 3: Markov Chains

Institution MURANG'A UNIVERSITY
Course AMS 309: STOCHASTIC...
Year 1st Year
Semester Unknown
Posted By Liz Ochola
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Description

We consider a special case where the outcome of any trial depends on the outcome of the directly preceding trial, and only on it. A stochastic process with this property is referred to as a Markov Chain (or a Markov process).
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