MM01 General Idea
MM01 : General idea for Markov models
Describe general idea and types of problems that lend themselves to Markov model
- Basic
A markov model consists of a set of "states" and a complete description of the likelihood of transitions between the states. If a system consists of entities that can be in mutually exclusive states (e.g., immune, susceptible, sick, dead) between which transitions are probabilistic (with each tick of the clock a known fraction of sick people will die, a known fraction will recover and become immune) then a Markov model may be useful to understand the long term behavior of the system.
- Intermediate
- Advanced