Exam (elaborations)
MATH 220 The Transition Matrix
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MATH 220 The Transition Matrix 2 Markov Chains 2.1 Basic Principles. 2.1.1 The Transition Matrix. A stochastic process is a mathematical model of a situation in the real world that evolves in time in a probabilistic fashion, i.e. we don't seem to be able to completely predict the future. Th...
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