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Stochastic process
mathematical object usually defined as a collection of random variables / From Wikipedia, the free encyclopedia
A Stochastic process is a mathematical description of random events that occur one after another.[1] It is possible to order these events according to the time at which they occur.
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This can be used to model such things as daily weather data, or exchange rate changes, or medical information like a patient's EKG, EEG, blood pressure or temperature.[1]
Stochastic processes used in various disciplines, including physics, biology, finance, telecommunications, and operations research.They provide a powerful framework for analyzing and predicting the behavior of systems under uncertain conditions.