1. What is a Markov process? 2. What is a transition matrix? A stochastic matrix? A distribution...

Question:

1. What is a Markov process?
2. What is a transition matrix? A stochastic matrix? A matrix?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...