what is meant by stochastic?
Thursday, November 22nd, 2007Generally, stochastic (pronounced stow-KAS-tik, from the Greek stochastikos, or “skilled at aiming,” since stochos is a target) describes an approach to anything that is based on probability or chance occurrence. In science, a stochastic approach is one in which values are obtained from a corresponding sequence of jointly distributed random variables. Classic examples of the [...]
Ronald Wesonga is a Statistician and a Specialist in Statistical Computing. Over the last decade, he has developed vast experience in data management...