The first financial model to use a Markov chain was from Prasad et al. in 1974. Another was the regime-switching model of James D. Hamilton (1989), in which a Markov chain is used to model switches between periods of high volatility and low volatility of asset returns.
A molecule is a particle containing two or more atoms. If it contains only one type of atom it is called an element.
The carbon atom number 1 (C1) in one sugar is linked to the fourth carbon atom (C4) of the next sugar in an extended array. All the glucose molecules in cellulose have the beta-configuration at the C1 atom, so all the glycosidic bonds that join the glucose molecules together are also of the beta type. This means that the cellulose molecule is straight, and many such molecules can lay side by side in a parallel series of rows.