Markov Decision Process

Definition & Meaning

Last updated 5 month ago

What is a Markov Decision Process (MDP)?

What does MDP stand for?

itMyt Explains Markov Decision Process:

A Markov decision sySTEM (MDP) is some thing that professionals talk over with as a “discrete time Stochastic manipulate Method.” It's based totally on arithmetic pioneered by means of Russian academic Andrey Markov in the overdue nineteenth and early twentieth centuries.

What Does Markov Decision Process Mean?

One way to give an explanation for a Markov selection manner and associated Markov Chains is that these are factors of cutting-edge sport idea predicated on easier mathematical research by way of the Russian scientist some hundred years in the past. The description of a Markov choice Procedure is that it research a State of affairs wherein a system is in a few given set of states, and moves Forward to some other nation based on the choices of a selection Maker.

A Markov chain as a Model shows a sequence of occasions in which possibility of a given Event relies upon on a Formerly attained nation. Professionals may additionally speak about a “counTable state space” in describing the Markov decision system – some partner the concept of the Markov choice model with a “Random Walk” model or other stochastic model based totally on probabilities (the random walk version, often mentioned on Wall Street, models the movement of an equity up or down in a market chance Context).

In widespread, Markov selection procedures are often implemented to some of the most sophisticated technologies that professionals are running on today, for example, in Robotics, Automation and studies fashions.

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