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WordNet-Online
Definitions from WordNet
Noun markoff chain has 1 sense
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Definitions from the WebTerm: Markoff ChainDescription:A Markov Chain, also known as a Markoff chain, is a mathematical concept used to describe a sequence of events where the probability of transitioning from one event to the next depends solely on the current event. It is a type of stochastic process, often used in probability theory and statistics. Senses and Usages:Sense 1 - Probability Theory:In probability theory, a Markov chain refers to a sequence of random variables where the probability of each variable depends only on the outcome of the previous variable in the sequence. This property is known as the Markov property and allows for the analysis and prediction of events based on the current state of the system. Example sentence: "The behavior of a gambler in a casino can be modeled using a Markov chain, allowing us to understand and predict their probabilities of winning or losing." Sense 2 - Computer Science:In computer science, a Markov chain is often used in various applications such as natural language processing, speech recognition, and machine learning. It is used to model the statistical properties and dependencies in sequences of data. Example sentence: "The Markov chain algorithm is widely used in automated text generation, where it predicts the next word based on the previous words in a sentence." Sense 3 - Economics:In economics, Markov chains are employed to analyze and predict economic trends and behaviors. They are used to model the dynamic relationships between different states of an economy or market. Example sentence: "Markov chain models can help economists understand the movement of a stock market index by analyzing its historical patterns and transitions." Possible Related Products: | ||||
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