State-Space Models

State-space models are mathematical frameworks used to describe dynamic systems by capturing their internal states and how these states evolve over time. In these models, the "state" represents the essential information needed to predict future behavior. The model uses equations to relate current states and inputs to future states and outputs. This approach is widely used in various fields, such as engineering, economics, and sciences, to analyze and control systems like robotics, weather forecasting, and economic trends, allowing for better decision-making based on the system's past and present behavior.