What does stochastic process mean?

Definitions for stochastic process
sto·chas·tic process

Here are all the possible meanings and translations of the word stochastic process.

Princeton's WordNet

  1. stochastic processnoun

    a statistical process involving a number of random variables depending on a variable parameter (which is usually time)

Wiktionary

  1. stochastic processnoun

    a function of random variables

Freebase

  1. Stochastic process

    In probability theory, a stochastic process, or sometimes random process is a collection of random variables; this is often used to represent the evolution of some random value, or system, over time. This is the probabilistic counterpart to a deterministic process. Instead of describing a process which can only evolve in one way, in a stochastic or random process there is some indeterminacy: even if the initial condition is known, there are several directions in which the process may evolve. In the simple case of discrete time, a stochastic process amounts to a sequence of random variables known as a time series. Another basic type of a stochastic process is a random field, whose domain is a region of space, in other words, a random function whose arguments are drawn from a range of continuously changing values. One approach to stochastic processes treats them as functions of one or several deterministic arguments whose values are random variables: non-deterministic quantities which have certain probability distributions. Random variables corresponding to various times may be completely different. The main requirement is that these different random quantities all have the same type. Type refers to the codomain of the function. Although the random values of a stochastic process at different times may be independent random variables, in most commonly considered situations they exhibit complicated statistical correlations.

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How to pronounce stochastic process?

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Numerology

  1. Chaldean Numerology

    The numerical value of stochastic process in Chaldean Numerology is: 2

  2. Pythagorean Numerology

    The numerical value of stochastic process in Pythagorean Numerology is: 5

Images & Illustrations of stochastic process

  1. stochastic processstochastic processstochastic processstochastic processstochastic process


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