Stochastic

Uncommon card · No. 90165

Stochasticity is the property of being well-described by a random probability distribution. Stochasticity and randomness are technically distinct concepts: stochasticity refers to a modeling approach, while randomness describes phenomena. These terms are often used interchangeably. In probability theory, the formal concept of a stochastic process is also referred to as a random process. Stochasticity is used in many different fields, including actuarial science, image processing, signal processing, computer science, information theory, telecommunications, chemistry, ecology, neuroscience, physics, and cryptography. It is also used in finance, medicine, linguistics, music, media, colour theory, botany, manufacturing and geomorphology.

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