Tag: markov-chain

Markov chain: What is a Markov chain?

Markov chain is a very important piece of probability and statistics. One application we could name is Markov Decision Process (MDP) used for decision making. Another one is Markov chain Monte Carlo (MCMC), a popular sampling method in statistics. You may also know Google PageRank algorithm, which is part of the ground of Google indexing technology. The algorithm is implemented on top of this concept…