Continuous-Time Markov Chains and Stationary Distributions

Two-state jump processes specified by transition rates, and the unique invariant measure they relax to.

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continuous-time Markov chains jump rate matrix derivation in calculus

Continuous-time Markov chains (CTMC) model stochastic processes with state transitions occurring at random times via a jump rate matrix ($Q$), derived from the limit of discrete transition probabilit…