Blog

Finite Math: Markov Transition Diagram to Matrix Practice

Finite Math: Markov Transition Diagram to Matrix Practice

In this video we discuss three common types of problems involving the conversion of transition diagrams to transition matrices in Markov Chains. Each problem is a standard type problem found in Finite Mathematics. The problems are explained in great detail step by step. If you are having problems in a course, please stay positive andRead more about Finite Math: Markov Transition Diagram to Matrix Practice[…]

Finite Math: Long-run Markov Chain Probabilities

Finite Math: Long-run Markov Chain Probabilities

Small Correction at the 9:18 mark – the 2-state transition should be [.23775 .76225]. I either had fat-fingers on the calculator, rounded wrong somewhere, or went three transitions. Problem is just on that slide. My apologies! In this video we extend our one-step and two-step Markov Chains far into the future to determine the probabilityRead more about Finite Math: Long-run Markov Chain Probabilities[…]

Finite Math: Markov Chains and College Enrollment Decisions

Finite Math: Markov Chains and College Enrollment Decisions

In this video we work a Markov Chain problem involving students’ patterns of enrolling full-time or part-time over the course of two semesters. The problem is worked using both a system of equations and using V(P-I)=0 matrix method. If you are having problems in a course, please stay positive and keep you head up. ToRead more about Finite Math: Markov Chains and College Enrollment Decisions[…]