Markov chain - HxGN EAM - 12.0.1 - Help - Hexagon

HxGN EAM Help

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HxGN EAM
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HxGN EAM Version
12.0.1

A Markov chain is a stochastic model used to determine the likelihood that the equipment will be in a certain state or health after it has reached a certain state or health in a previous iteration of the chain. The changes to the state of the equipment are called transitions and the probabilities that the equipment moves from one state to another are called transition probabilities. The initial state of the equipment is assumed to be perfect health.