What is another word for Markoff Chain?
Pronunciation: [mˈɑːkɒf t͡ʃˈe͡ɪn] (IPA) 
Markoff Chain can be referred to as a Markov Chain, stochastic process, or a random walk. It is a mathematical model that is used to describe sequences of events that are dependent on the previous events. It is widely used in statistics, physics, biology, and computer science to model various systems, such as stock prices, weather patterns, and gene expression patterns. The term Markoff Chain is named after the Russian mathematician, Andrey Markov, who first originated this concept in 1906. Other synonyms for Markoff Chain include transition matrix, state space, irreversible process, and first-order system. These synonyms are used interchangeably in various fields to describe the same mathematical concept.
