
Markov Chain Analysis
Markov Chain Analysis is a mathematical model used to analyze and predict the behavior of a system that changes over time. It is a stochastic process that involves a sequence of events where the probability of each event depends only on the state attained in the previous event. In other words, it is a memoryless process where the future state of the system depends only on the current state and not on the past history of the system. Markov Chain Analysis is widely used in various fields such as finance, economics, physics, chemistry, and computer science to model and analyze complex systems. It is particularly useful in natural language processing, speech recognition, and image processing to model and predict the behavior of a system based on its current state.
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