Link to 1st Part: https://youtu.be/l7fqodwWeII
Link to 2nd Part: https://youtu.be/iiQKEc1VGJk
Link to Brain Teasers Playlist: https://youtube.com/playlist?list=PLWkcYLdKLyXLXKq62l9DqqNT3yFY3FYlj&si=9eaHLAiSnAU0XlrC
In this video, we cover all of the Markov Chains covering concepts like state space, transition matrix, transition graph, absorbing markov chains, different kinds of states that exist in absorbing markov chains, probability of a path taken by random variable, equations of probability of getting absorbed and expected time to be absorbed.
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Green Book: A Practical Guide To Quantitative Finance Interviews: https://amz.run/53n3
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00:00 Random Variable (RV) & its sequence
02:42 State Space of RV
03:32 Markov Property
06:10 Homogeneous Markov Chains
08:20 Transition Matrix
10:31 Initial Probability Tuple
12:25 Probability of a Path
17:04 Transition Graph
20:11 State Classification in Markov Chains
26:52 Absorbing Markov Chains
31:14 Probability of Getting Absorbed
38:08 Expected Time to Absorption
41:27 Outro