In this video I will explain what is a stochastic matrix.

Next video in the Markov Chains series:
youtu.be/YMUwWV1IGdk

1. What are Markov Chains: An Introduction
2. Markov Chains: An Introduction (Another Method)
3. Why Are Markov Chains Called "Markov Chains"?
4. Another Way to Calculate the Markov Chains
5. What Happens if the Markov Chain Continues?
6. Markov Chain Applied to Market Penetration
7. Power of the Probability Matrix
8. What is a Stochastic Matrix?
9. What is a Regular Matrix?
10. Regular Markov Chain
11. How to Check for a Stable Distribution Matrix
12. How to Find a Stable 2x2 Matrix - Ex. 1
13. How to Find a Stable 2x2 Matrix - Ex. 2
14. How to Find a Stable 2x2 Matrix - Ex. 3
15. How to Find a Stable 3x3 Matrix
16. Application Problem #1, Charity Contributions
17. Application Problem #2, Grocery Stores
18. Application Problem #3, Brand Loyalty
19. Absorbing Markov Chains - Definition 1
20. Absorbing Markov Chains - Definition 2
21. Absorbing Markov Chains - Example 1
22. Absorbing Markov Chains - Example 2
23. Absorbing and Non-Absorbing Markov Chain
24. Absorbing Markov Chain in Standard Form
25. Absorbing Markov Chain: Stable Matrix=?
26. Absorbing Markov Chain: Stable Matrix=? Ex. 1
27. Absorbing Markov Chain: Stable Matrix=? Ex. 2
28. Absorbing Markov Chain: Stable Distribution Matrix I
29. Absorbing Markov Chain: Stable Distribution Matrix II
30. Basics of Solving Markov Chains
31. Powers of a Transition Matrix
32. Finding Stable State Matrix
33. What is an Absorbing Markov Chain
34. Finding the Stable State Matrix
35. Finding the Stable State & Transition Matrices
36. Absorbing Markov Chain: Standard Form - Ex.
37. Absorbing Markov Chain: Changing to Standard Form
38. Absorbing Markov Chain: Standard Form - Ex.

In this third and final series on Probability and Statistics, Michel van Biezen introduces Markov chains and stochastic processes and how it predicts the probability of future outcomes.