Tag: Markov

When I started studying Physics, I didn’t like the concept of probability. I was so pumped by the idea that with Physics you can model the entire world that the idea of uncertainty made me furious :) The truth is that when we want to study real phenomena we must, sooner or later, deal ...

Thanks to this intellectual disagreement, Markov created a way to describe how random, also called stochastic, systems or processes evolve over time. The system is modeled as a sequence of states and, as time goes by, it moves in between states with a specific probability. Since the states are co...

In addition to proving the central limit theorem, Andrey Andreyevich Markov played a pivotal role in developing Markov chains. Markov chains are used to model discrete-time, discrete space random processes with applications across multiple domains including Finance, Advertising, NLP, SEO, ...

Let E[n] = Number of tosses needed to get n Heads in a row. Let’s say we have n-1 consecutive heads so far, and are at State n-1. If we do 1 more toss, We reach State n with probability p. This is the terminal state, no more tosses needed. Contrib...

A Monte Carlo method or simulation is a type of computational algorithm that consists of using sampling numbers repeatedly to obtain numerical results in the form of the likelihood of a range of results of occurring. In other words, a Monte Carlo simulation is used to estimate or approximate the ...

A Monte Carlo method or simulation is a type of computational algorithm that consists of using sampling numbers repeatedly to obtain numerical results in the form of the likelihood of a range of results of occurring. In other words, a Monte Carlo simulation is used to estimate or approximate the ...