# Probability & Stats 3: Markov Chains & Stochastic Processes

## Video Lectures

Displaying all 38 video lectures.
 Lecture 1 Play Video What are Markov Chains: An IntroductionIn this video I will introduce Markov chains and how it predicts the probability of future outcomes. Next video in the Markov Chains series: http://youtu.be/3P8ZIIYgpvc Lecture 2 Play Video Markov Chains: An Introduction (Another Method)In this video I will introduce an alternative method of solving the Markov chain. Next video in the Markov Chains series: http://youtu.be/ECrsoUtsKq0 Lecture 3 Play Video Why Are Markov Chains Called "Markov Chains"?In this video I will explain why the Markov chain is call the “Markov chain”. Next video in the Markov Chains series: http://youtu.be/bBZrKmP020c Lecture 4 Play Video Another Way to Calculate the Markov ChainsIn this video I will show an alternative method to calculate the 2nd, 3rd, 4th,...states of Markov chain. Next video in the Markov Chains series: http://youtu.be/9wBPa2eu_lc Lecture 5 Play Video What Happens if the Markov Chain Continues?In this video I will show what happens when the Markov chain is allowed to continued to the nth state. Next video in the Markov Chains series: http://youtu.be/xgvgN4fUqcs Lecture 6 Play Video Markov Chain Applied to Market PenetrationIn this video I will explain how Markov chain can be used to introduce a new product into the market. Next video in the Markov Chains series: http://youtu.be/KBCZ7o8XLKU Lecture 7 Play Video Power of the Probability MatrixIn this video I will find the stable probability matrix. Next video in the Markov Chains series: http://youtu.be/VXntl6MqRIo Lecture 8 Play Video What is a Stochastic Matrix?In this video I will explain what is a stochastic matrix. Next video in the Markov Chains series: http://youtu.be/YMUwWV1IGdk Lecture 9 Play Video What is a Regular Matrix?In this video I will explain what is a regular matrix. Next video in the Markov Chains series: http://youtu.be/loBUEME5chQ Lecture 10 Play Video Regular Markov ChainIn this video I will explain what is a regular Markov chain. Next video in the Markov Chains series: http://youtu.be/DeG8MlORxRA Lecture 11 Play Video How to Check for a Stable Distribution MatrixIn this video I will show how to check for a stable distribution matrix. Next video in the Markov Chains series: http://youtu.be/cSKXAaIhW6w Lecture 12 Play Video How to Find a Stable 2x2 Matrix - Ex. 1In this video I will find the stable probability and distribution matrix, example 1, 2x2 matrix. Next video in the Markov Chains series: http://youtu.be/C1hs3EQS_jo Lecture 13 Play Video How to Find a Stable 2x2 Matrix - Ex. 2In this video I will find the stable probability and distribution matrix, example 2, 2x2 matrix. Next video in the Markov Chains series: http://youtu.be/vxdUtjoxWvE Lecture 14 Play Video How to Find a Stable 2x2 Matrix - Ex. 3In this video I will find the stable probability and distribution matrix, example 3, of customers of 2 stores. Next video in the Markov Chains series: http://youtu.be/ZENBQj2qQ2k Lecture 15 Play Video How to Find a Stable 3x3 MatrixIn this video I will find the stable probability and distribution matrix, 3x3 matrix. Next video in the Markov Chains series: http://youtu.be/87u7a2XGq1s Lecture 16 Play Video Application Problem #1, Charity ContributionsIn this video I will find the final (stable) distribution matrix of charitable contributions. Next video in the Markov Chains series: http://youtu.be/Na4m8HSpZSo Lecture 17 Play Video Application Problem #2, Grocery StoresIn this video I will find the final (stable) distribution matrix of distribution matrix of customers of 2 stores. Next video in the Markov Chains series:https://youtu.be/7_NI_9L35t0 Lecture 18 Play Video Application Problem #3, Brand LoyaltyIn this video I will find the stable distribution matrix (3x3) of brand loyalty. Next video in the Markov Chains series: http://youtu.be/bpWV66hnRvQ Lecture 19 Play Video Absorbing Markov Chains - Definition 1In this video I will define the absorbing Markov chain using examples and graphically. Next video in the Markov Chains series: http://youtu.be/S_QPpEELwZk Lecture 20 Play Video Absorbing Markov Chains - Definition 2In this video I will define the absorbing Markov in a nxn matrix and 3x3 matrix. Next video in the Markov Chains series: http://youtu.be/cZKAVOEWcrg Lecture 21 Play Video Absorbing Markov Chains - Example 1In this video I will find the stable distribution matrix in an absorbing Markov chain. Next video in the Markov Chains series: http://youtu.be/1bErNmzD8Sw Lecture 22 Play Video Absorbing Markov Chains - Example 2In this video I will find the stable transition matrix in an absorbing Markov chain. Next video in the Markov Chains series: http://youtu.be/hMceS_HIcKY Lecture 23 Play Video Absorbing and Non-Absorbing Markov ChainIn this video I will explain the difference between an absorbing and non-absorbing Markov chain. Next video in the Markov Chains series: http://youtu.be/UuZU3LUBalQ Lecture 24 Play Video Absorbing Markov Chain in Standard FormIn this video I will find the standard form of a transition matrix, 3x3 and 4x4. Next video in the Markov Chains series: http://youtu.be/bj_O4edCwgc Lecture 25 Play Video Absorbing Markov Chain: Stable Matrix=?In this video I will find the stable transition matrix in an absorbing Markov chain. Next video in the Markov Chains series: http://youtu.be/72Ipee3ueUs Lecture 26 Play Video Absorbing Markov Chain: Stable Matrix=? Ex. 1In this video I will find the stable transition matrix (3x3) in an absorbing Markov chain. Next video in the Markov Chains series: http://youtu.be/TWq0CvkAWVg Lecture 27 Play Video Absorbing Markov Chain: Stable Matrix=? Ex. 2In this video I will find the stable transition matrix (4x4) in an absorbing Markov chain. Next video in the Markov Chains series: http://youtu.be/u89Sd514EDI Lecture 28 Play Video Absorbing Markov Chain: Stable Distribution Matrix IIn this video I will find the stable distribution matrix after finding stable transition matrix. Next video in the Markov Chains series: http://youtu.be/0iNR2_gCM7I Lecture 29 Play Video Absorbing Markov Chain: Stable Distribution Matrix IIIn this video I will find the stable distribution matrix (4x4) when there is only 1 absorbing state. Next video in the Markov Chains series: http://youtu.be/EAZ4K1Z7qws Lecture 30 Play Video Basics of Solving Markov ChainsIn this video I will demonstrate the basics of method 2 of solving Markov chain problems. Next video in the Markov Chains series: Lecture 31 Play Video Powers of a Transition MatrixIn this video I will use method 2 to find the stable transition matrix (3x3). Next video in the Markov Chains series: http://youtu.be/SSeoW9IrVaw Lecture 32 Play Video Finding Stable State MatrixIn this video I will use method 2 to find the stable state matrix (3x3). Next video in the Markov Chains series: http://youtu.be/5_Hb0lvlbH4 Lecture 33 Play Video What is an Absorbing Markov ChainIn this video I will explain the method 2 transition matrix for an absorbing Markov chain. Next video in the Markov Chains series: http://youtu.be/p_6poNVikn8 Lecture 34 Play Video Finding the Stable State MatrixIn this video I will use method 2 to find the stable state and stable transition matrices (3x3). Next video in the Markov Chains series: http://youtu.be/uferdSl_e5E Lecture 35 Play Video Finding the Stable State & Transition MatricesIn this video I will explain the standard form of the absorbing Markov chain. Next video in the Markov Chains series: http://youtu.be/MrmMyK5CuWs Lecture 36 Play Video Absorbing Markov Chain: Standard Form - Ex.In this video I will use method 2 to find the final stable transition matrix given an absorbing Markov chain. Next video in the Markov Chains series: http://youtu.be/gPOiDeHZX4E Lecture 37 Play Video Absorbing Markov Chain: Changing to Standard FormIn this video I will find the standard form of absorbing Markov chains when there are 2 absorbing states. Next video in the Markov Chains series: http://youtu.be/LUtqqJ9VFhU Lecture 38 Play Video Absorbing Markov Chain: Standard Form - Ex.In this video I will find the stable transition and stable state matrices of a standard Markov chain when there are 2 absorbing states. First video in the Markov Chains series: https://youtu.be/Uz3JIp6EvIg