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All Blog Posts Tagged 'Probability' (2)

Gambler's Ruin simulations

PREFACE



This article has 4 sections:

  1. Introduction: Introduction to the gambler's ruin problem
  2. Methodology: How the simulation will be carried out
  3. Pseudocode: Summary of the Python Code
  4. Theory: A summary of the theory



The full code and theory can be found here: …

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Added by Tansel Arif on February 5, 2019 at 4:55am — No Comments

Marketing Analytics through Markov Chain

Imagine you are a company selling a fast-moving consumer good in the market.

Let’s assume that the customer would follow the given journey to make the final purchase:               These are the states at which the customer would be at any point in the purchase journey.

Now, how to find out in which state the customers would be after 6…

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Added by Ridhima Kumar on January 8, 2019 at 12:00am — 4 Comments

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