Base of EverywhereA Treatise on Markov ModelsA Markov model is a probabilistic framework used to represent systems that transition from one state to another within a finite or countable set of states. The fundamental assumption underlying a Markov model is the Markov property, which asserts that the future state of a process depends only on the present state, and not on the sequence of past states that preceded it. Formally, this is written as: P(X_{t+1} | X_t, X_{t-1}, ..., X_0) = P(X_{t+1} ...