Stochastic process

mathematical object usually defined as a collection of random variables
A Brownian bridge, a stochastic process.

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.

This can be used to model such things as stock market and exchange rate changes, or medical information like a patient's EKG, EEG, blood pressure or temperature.[1]

ReferencesEdit

  1. 1.0 1.1 "Stochastic process". princeton.edu. 2014. Retrieved 18 January 2015.