Abstract
Stochastic processes are sequences of random variables generated by probabilistic laws. The word ‘stochastic’ comes from the Greek and means ‘random’ or ‘chance’. Markov processes are a class of stochastic processes that are distinguished by the Markov property and have many applications in, for example, operations research, biology, engineering, and economics. In this chapter, we introduce some basic concepts of Markov processes.
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© 1997 M. Kijima
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Kijima, M. (1997). Introduction. In: Markov Processes for Stochastic Modeling. Springer, Boston, MA. https://doi.org/10.1007/978-1-4899-3132-0_1
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DOI: https://doi.org/10.1007/978-1-4899-3132-0_1
Publisher Name: Springer, Boston, MA
Print ISBN: 978-0-412-60660-1
Online ISBN: 978-1-4899-3132-0
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