Markov Chains

Southern Oregon University
Talk Abstract
I shall briefly introduce what Markov Chains are and some theory behind how the transition matrix can be used. I will then apply the theory to an example that models the movement of pieces on a Monopoly board. Some examples of the theory I will demonstrate are finding and interpreting powers of the transition matrix, and calculating expected turns until landing in an absorbing state (in the Monopoly example this is Jail) based on the fundamental matrix.
Talk Subject
Probability and Statistics
Time Slot