Probability Theory, Exercise, Solutions, Mathematics.
= P(Blue2 | Red1) × P(Red1) + P(Blue2 | Blue1) × P(Blue1) = 1/2 × 3/5 + 1/4 × 2/5 = 3/10 + 1/10 = 4/10 = 0.4, or 40%. Section 5: Stochastic Processes 1. Short Answer Question: Explain the basic concepts of Markov Chains and other stochastic processes. 2. Application Question: Simulate a simple