Stochastic process

mathematical object usually defined as a collection of random variables

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.

A Brownian bridge, a stochastic process.

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.