Ya done wrong and ya gotta pay the price. It’s the chain gang for you. The Markov Chain gang.
You’re here until yu’ve done your time, and we are gonna make ya work.
Hard labour, kid. Work ’til ya brain burns, ya fingers cramp and ya think ya can’t do no more.
We’re gonna turn ya into a… Mathematician.
OK, enough of the high drama; Markov chains are the last bit of the course content you have to master. Despite my complaining about it, they’re not as bad as I’ve made them out to be. If you remember tree diagrams from year 9, markov chains are just one more step along that path. In short Markov Chain are about semi-independent repeated events. Independent events are probabilistic outcomes that are not affected by prior events; Markov style events are events that are only affected by the immediately prior event – i.e what happened two stages before doesn’t effect the next probability directly. In basic terms, only the last event that occured effects this event – this is not about “winning/losing streaks”.