These Markov Chains <kbd>.BAS</kbd> modules accompany the book entitled: <i>Markov Chains: From Theory to Implementation and Experimentation</i>, and they are compatible with Visual Basic for Applications (<kbd>VBA</kbd>) and Visual Basic 6.0 (<kbd>VB 6.0</kbd>). These algorithms include the following: An introduction to simple stochastic matrices and transition probabilities is followed by a simulation of a two-state Markov chain. The notion of steady state is explored in connection with the long-run distribution behavior of the Markov chain. Predictions based on Markov chains with more than two states are examined, followed by a discussion of the notion of absorbing Markov chains. Also covered in detail are topics relating to the average time spent in a state, various chain configurations, and n-state Markov chain simulations used for verifying experiments involving various diagram configurations.
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