Stochastic Process
A stochastic process is a collection of random variables that evolve over time or space. It is a mathematical model used to describe the evolution of a system over time, where the future state of the system depends on the current state and some random element. Stochastic processes are used in many fields, including finance, physics, engineering, and computer science. They are used to model systems that are subject to random fluctuations, such as stock prices, weather patterns, and traffic flow. There are many different types of stochastic processes, including Markov processes, Brownian motion, and Poisson processes.
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