[…] A previous article shows an example of a Markov chain model and computes the probability that the system ends up in a terminal state (called an absorbing state). As explained previously, you can often compute exact probabilities for questions about Markov chains. Nevertheless, it can be useful to know how to simulate from a Markov system and to use the simulation to compute Monte Carlo estimates for probabilities. This article shows how to use SAS IML to simulate samples from a Markov model. …