matrices - basics and applications
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Video below provides a summary for transition matrices with an example from about 2.10. He gets a little muddled at the start of the example - I suggest you do the T matrix yourself first. If a train is late 1 day there is a 15% chance it will be late the next day. If the train is on time one day there is a 40% chance it will be late the next day.
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Video below provides a slightly more difficult example of using transition matrices.
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