A Markov chain is a mathematical system that models a sequence of possible events in which the probability of each event depends only on the state attained in the previous event. It is used to predict the probability of a certain event occurring given the current state of the system. Markov chains can be used in a variety of applications, such as predicting the probability of a certain event in stock market trading, determining the likelihood of an event occurring in a computer system, or analyzing the behavior of a customer in a retail store. Additionally, Markov chains have been used to model weather and climate, as well as social networks.
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