Visualizing a Markov Chain
Markov Chains are often visualized in diagrams showing the different stages connected by arrows representing the possible transitions.
Suppose you're analyzing market trends using a Markov Chain model. The market can be in one of three states:
- Bull Market: Strong growth and investor optimism.
- Bear Market: Declining stock prices and pessimism.
- Stagnant Market: Minimal movement, uncertain direction.
In the pictured Markov Chain diagram, what does the number marked in red represent?
Diese Übung ist Teil des Kurses
Advanced Probability: Uncertainty in Data
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