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Markov Chains and Decision Processes for Engineers and Managers / Edition 1
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Markov Chains and Decision Processes for Engineers and Managers / Edition 1
Current price: $79.95
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Barnes and Noble
Markov Chains and Decision Processes for Engineers and Managers / Edition 1
Current price: $79.95
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Organized around Markov chain structure, the book begins with descriptions of Markov chain states, transitions, structure, and models, and then discusses steady state distributions and passage to a target state in a regular Markov chain. The author treats canonical forms and passage to target states or to classes of target states for reducible Markov chains. He adds an economic dimension by associating rewards with states, thereby linking a Markov chain to a Markov decision process, and then adds decisions to create a Markov decision process, enabling an analyst to choose among alternative Markov chains with rewards so as to maximize expected rewards. An introduction to state reduction and hidden Markov chains rounds out the coverage.
In a presentation that balances algorithms and applications, the author provides explanations of the logical relationships that underpin the formulas or algorithms through informal derivations, and devotes considerable attention to the construction of Markov models. He constructs simplified Markov models for a wide assortment of processes such as the weather, gambling, diffusion of gases, a waiting line, inventory, component replacement, machine maintenance, selling a stock, a charge account, a career path, patient flow