February 11,2007 - Transition Matrices

What is Transition Matrices?
- A transition matrix is a square matrix describing the probabilities of moving from one state to another in a dynamic system.
For more info, check out:
http://economics.about.com/library/glossary/bldef-markov-transition-matrix.htm

Example:
In Winnipeg, there is a workforce of 2800 people, with 2500 employed and 800 unemployed. During the course of one year, 20% of the employed workers will lose their jobs and 50% of the unemployed will find jobs.

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Quotes:

“It isn't that they can't see the
solution.It is that they can't
see the problem.”
-- G. K. Chesterton

Forecast for February 12, 2008(Tuesday)
-11`C with a light snow and a wind of
20km/h.

BTW: Next scribe is YELLOW