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Concept
Transition Matrix
A
transition matrix
is a
square matrix
used to describe the transitions of a
Markov chain
, with each element representing the
probability of moving
from one state to another. It is fundamental in modeling
stochastic processes
where
future states
depend only on the
current state
, not on the
sequence of events
that preceded it.
Relevant Degrees
Probability and Statistics 100%
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