Simulation vs Exact: 80 Simulated Days against the Steady State (with a Chart)
This lesson is part of the course
In this lesson
You simulate 80 days of weather from given random numbers with the inverse-transform trick, count the simulated shares and compare them with the exact steady state in a table and a chart.
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Lessons in this course
- States & the Transition Matrix: Weather Records to Probabilities that Sum to 1 Locked
- n-Step Probabilities: Matrix Powers P², P⁴, P⁸ with MMULT Locked
- Steady State: Iterate to Convergence, then Solve Exactly with MINVERSE Locked
- Absorbing Chains: the Fundamental Matrix, Expected Steps & Absorption Probabilities Locked
- Gambler's Ruin: Probability of Reaching a Target before Going Broke Locked
- Snakes & Ladders: a Transition Matrix from Dice Rolls and the Expected Game Length Locked
- Brand Switching: Monthly Market Shares and the Long-Run Share (with a Chart) Locked
- Simulation vs Exact: 80 Simulated Days against the Steady State (with a Chart) Locked