Stochastic Calculus deals with the rate of change of functions with respect to the randomness. It has been applied in the field of financial mathematics. When we look at the graph of stock prices, there are many irregular price fluctuations. The main tool for modeling the small fluctuations is...

In recent years, John Taylor's famous 1993 paper, "Discretion Versus Policy Rules in Practice," has revolutionized the way many policymakers at central banks think about monetary policy. In fact, the Taylor rule, which is based on deviations of inflation from its target and output gaps, can be...

“Wonton” is one of the traditional Chinese food, especially popular in the south-east region such as the city Wuxi. There are numerous Wonton retailers around Wuxi, making it hard to analyze such abundant retailers. Consequently, I decide to highlight a specific area in Wuxi city, Binhu...

This paper will explore concepts of the Markov Chain and demonstrate its applications in probability prediction area and financial trend analysis. The historical background and the properties of the Markov's chain are analyzed