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Markov Processes for Stochastic Modeling, 2nd Edition by Oliver Ibe

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3

Introduction to Markov Processes

3.1 Introduction

The focus of this book is on Markov processes and their applications. In this chapter, we define these processes and discuss some of their applications. The chapters that follow are devoted to the different types of Markov processes.

A stochastic process image is called a first-order Markov process if for any image, the conditional CDF of image for given values of depends only on . That is,

This means that, given ...

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