Transition probabilities

Transition probabilities refer to the likelihood of moving from one state or condition to another within a system. For example, in a weather model, the chance of going from a sunny day to a rainy day is a transition probability. These probabilities help in predicting future events based on current conditions. By analyzing patterns and data, transition probabilities allow us to understand how likely certain outcomes are, aiding decision-making in fields like finance, healthcare, and even everyday life scenarios. Essentially, they provide a way to quantify uncertainty and assess potential changes over time.