Awesome. Thanks! Again, very clear. This is interesting stuff. It makes me curious about applications of stochastic processes in general - time to read the

Awesome. Thanks! Again, very clear. This is interesting stuff. It makes me curious about applications of stochastic processes in general - time to read the course notes you linked. They look like fun problems to program and model. Edit: Wikipedia, of course, has a good overview of applications of Markov chains. http://en.wikipedia.org/wiki/Markov_chain#Applications http://en.wikipedia.org/wiki/Markov_chain#Applications