AMS 309 Lecture 3: Markov Chains

Institution	MURANG'A UNIVERSITY
Course	AMS 309: STOCHASTIC...
Year	1st Year
Semester	Unknown
Posted By	Liz Ochola
File Type	pdf
Pages	12 Pages
File Size	503.64 KB
Views	5699
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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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