In a Markov chain with transition matrix P, what do we call a probability vector v that satisfies the equation vP = v?
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Stationary distribution
The stationary distribution represents the long-term equilibrium of the system. If the Markov chain is irreducible and aperiodic, the system will converge to this distribution regardless of the starting state.
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- In a Markov chain, what term describes a probability vector that remains unchanged when multiplied by the transition matrix?