Markov Chains

A Markov Chain is a mathematical model that describes a system which moves between different states, where the likelihood of moving to the next state depends only on the current state, not the history of previous states. Think of it as a step-by-step process where each step is influenced solely by where you are now. This property is called the "memoryless" feature. Markov Chains are used in areas like predicting weather patterns, modeling stock prices, or language processing, providing a way to understand and simulate systems that evolve over time based on recent conditions.