Speaker:
Date of Talk:
04/16/13
Affiliation:
Senior Test Engineer, Raytheon Company
Title:
A Brief Introduction to Markov Chains and Some Applications in Industry
Abstract
Markov chains are an easily understandable and fun topic in Stochastic Processes. In this overview talk I will present some basic concepts of Markov chains and how they can be used practically. One of the most well known andinteresting applications is the Google Page Rank algorithm. This application will be presented in some detail and, time permitting, other applications will be briefly outlined including modeling the demand for cocaine usage as waspresented by the Rand corporation. This talk will be accessible for anyone with a basic knowledge of linear algebra and probability theory.
