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Meaning

The word "stochastic" refers to a process or system that involves randomness or probability. It often describes situations where outcomes are not deterministic and can change due to various unpredictable factors. In fields like mathematics, statistics, finance, and science, stochastic models are used to analyze and forecast uncertain events.

Synonyms

Antonyms

Etymology

The term "stochastic" comes from the Greek word "stochastikos," which means "pertaining to guessing." The root "stochastēs" translates to "guesser," reflecting the idea of making educated guesses in uncertain situations.

Examples

  1. The stock market is often viewed as a stochastic environment due to the unpredictable nature of stock prices.
  2. In the field of epidemiology, researchers utilize stochastic models to understand the spread of diseases.
  3. Climate change predictions must consider stochastic factors such as human behavior and natural events.