Markov Chains: Transition Matrices, Powers & the Steady State (with a Chart)
This lesson is part of the course
In this lesson
You push a bike fleet through a transition matrix day by day, compute a two-step probability with P² and solve for the long-run distribution.
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Lessons in this course
- Vectors: Dot Product, Length & the Angle Between Two Mixes Locked
- Matrices: Addition, Subtraction & Scalar Multiplication Locked
- Matrix Multiplication: Units × Prices with MMULT Locked
- Transpose & Identity: Bills of Materials in Both Directions Locked
- Determinants & Invertibility: MDETERM and MINVERSE Locked
- Solving Linear Systems: x = A⁻¹ b for a Production Plan Locked
- Markov Chains: Transition Matrices, Powers & the Steady State (with a Chart) Locked
- Least Squares in Matrix Form: (XᵀX)⁻¹Xᵀy vs LINEST Locked