stochastic

Examples of stochastic in the following topics:

• Chance Processes

  • A stochastic process is a collection of random variables that is often used to represent the evolution of some random value over time.
  • Another basic type of a stochastic process is a random field, whose domain is a region of space.
  • In other words, a stochastic process is a random function whose arguments are drawn from a range of continuously changing values.
  • Thus, the random walk serves as a fundamental model for recorded stochastic activity.
  • Summarize the stochastic process and state its relationship to random walks.

• Chance Models

  • "Stochastic" means being or having a random variable.
  • In order to understand stochastic modeling, consider the example of an insurance company projecting potential claims.
  • A stochastic model would be able to assess this latter quantity with simulations.
  • Stochastic models can be simulated to assess the percentiles of the aggregated distributions.
  • Truncating and censoring of data can also be estimated using stochastic models.

• Selective Breeding

  • Evolution may be observed in the laboratory as populations adapt to new environmental conditions and/or change by such stochastic processes as random genetic drift.

• Sampling Distributions and the Central Limit Theorem

  • The classical central limit theorem describes the size and the distributional form of the stochastic fluctuations around the deterministic number $\mu$ during this convergence.

• Mann-Whitney U-Test

  • Although Mann and Whitney developed the test under the assumption of continuous responses with the alternative hypothesis being that one distribution is stochastically greater than the other, there are many other ways to formulate the null and alternative hypotheses such that the test will give a valid test.