question 1: Explain the Discrete and Continuous Markov Chains. Discuss the models for the two chains in in detail with assumptions and rules also elaborate your answer with examples.

Elementary Linear Algebra (MindTap Course List)
8th Edition
ISBN:9781305658004
Author:Ron Larson
Publisher:Ron Larson
Chapter2: Matrices
Section2.5: Markov Chain
Problem 47E: Explain how you can determine the steady state matrix X of an absorbing Markov chain by inspection.
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question 1: Explain the Discrete and Continuous Markov Chains. Discuss the models for the two chains in in detail with assumptions and rules also elaborate your answer with examples.
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