Markov Model
What is a Markov Model? Markov models are some of the most powerful tools available to engineers and scientists for analyzing complex systems. This analysis yields results for both the time dependent evolution of the system and the steady state of the system. For example, in Reliability Engineering, the operation of the system may be represented by a state diagram, which represents the states and rates of a dynamic system. This diagram consists of nodes (representing a possible state of the system, which is determined by the states of the individual components & sub-components) connected by arrows (representing the rate at which the system operation transitions from one state to the other state). Transitions may be determined by a variety of possible events, for example the failure or repair of an individual component. A state-to-state transition is characterized by a probability distribution. Under reasonable assumptions, the system operation may be analyzed usin...