What is continuous time Markov chain? Explain why the birth-and-death process is a special type of continuous time Markov chain.
Question
Solution 1
A Continuous Time Markov Chain (CTMC) is a type of stochastic process that undergoes transitions from state to state in a continuous time domain. The defining characteristic of a CTMC is the Markov property, which states that the probability of transitioning to any particular state depends solely on Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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