Markov chains are stochastic processes where the probability of moving to the next state depends only on the current state, not on the sequence of events that preceded it. This chapter discusses N-stage transition probabilities in Markov chains and how to calculate the probability of being in a particular state after a given number of steps or time periods using the transition probability matrix.
Markov chains are stochastic processes where the probability of moving to the next state depends only on the current state, not on the sequence of events that preceded it. This chapter discusses N-stage transition probabilities in Markov chains and how to calculate the probability of being in a particular state after a given number of steps or time periods using the transition probability matrix.
Markov chains are stochastic processes where the probability of moving to the next state depends only on the current state, not on the sequence of events that preceded it. This chapter discusses N-stage transition probabilities in Markov chains and how to calculate the probability of being in a particular state after a given number of steps or time periods using the transition probability matrix.