By Wai-Ki Ching,Ximin Huang,Michael K. Ng,Tak-Kuen Siu
This new version of Markov Chains: versions, Algorithms and functions has been thoroughly reformatted as a textual content, whole with end-of-chapter routines, a brand new specialize in administration technological know-how, new functions of the versions, and new examples with purposes in monetary danger administration and modeling of economic data.
This e-book includes 8 chapters. bankruptcy 1 offers a quick creation to the classical conception on either discrete and non-stop time Markov chains. the connection among Markov chains of finite states and matrix thought may also be highlighted. a few classical iterative tools for fixing linear structures can be brought for locating the desk bound distribution of a Markov chain. The bankruptcy then covers the fundamental theories and algorithms for hidden Markov versions (HMMs) and Markov selection strategies (MDPs).
Chapter 2 discusses the functions of constant time Markov chains to version queueing platforms and discrete time Markov chain for computing the PageRank, the score of sites on the web. bankruptcy three reviews Markovian types for production and re-manufacturing structures and provides closed shape strategies and quick numerical algorithms for fixing the captured structures. In bankruptcy four, the authors current an easy hidden Markov version (HMM) with quick numerical algorithms for estimating the version parameters. An program of the HMM for purchaser category can also be offered.
Chapter five discusses Markov selection methods for purchaser lifetime values. shopper Lifetime Values (CLV) is a crucial inspiration and volume in advertising and marketing administration. The authors current an strategy according to Markov choice methods for the calculation of CLV utilizing actual data.
Chapter 6 considers higher-order Markov chain versions, really a category of parsimonious higher-order Markov chain types. effective estimation equipment for version parameters in keeping with linear programming are provided. modern study effects on functions to call for predictions, stock keep an eye on and monetary probability dimension also are awarded. In bankruptcy 7, a category of parsimonious multivariate Markov types is brought. back, effective estimation tools in line with linear programming are awarded. functions to call for predictions, stock regulate coverage and modeling credits scores info are mentioned. eventually, bankruptcy eight re-visits hidden Markov versions, and the authors current a brand new type of hidden Markov versions with effective algorithms for estimating the version parameters. functions to modeling rates of interest, credits rankings and default info are discussed.
This booklet is geared toward senior undergraduate scholars, postgraduate scholars, pros, practitioners, and researchers in utilized arithmetic, computational technology, operational learn, administration technological know-how and finance, who're drawn to the formula and computation of queueing networks, Markov chain versions and similar issues. Readers are anticipated to have a few uncomplicated wisdom of likelihood idea, Markov procedures and matrix theory.
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