What is another word for Markov Chain?
Pronunciation: [mˈɑːkɒv t͡ʃˈe͡ɪn] (IPA) 
A Markov Chain is a mathematical model that describes a sequence of events where the probability of each event depends only on the state attained in the preceding event. This statistical tool has several synonyms, including stochastic process, memoryless process, random walk, and chain process. These terms all refer to models that involve transitioning from one state to another based on random probabilities. The Markov Chain is widely used in various fields of study, such as physics, engineering, finance, and biology, to model complex systems' behavior. Understanding the different synonyms for the Markov Chain can help researchers and experts to communicate their findings and ideas effectively.
