Stochastic Processes

Stochastic process is the process of some values changing randomly over time. At its simplest form, it involves a variable changing at a random rate through time. There are various types of stochastic processes. Some well-known types are random walks, Markov chains, and Bernoulli processes. They are used in mathematics, engineering, computer science, and various other fields. They can be classified into two distinct types: discrete-time and continuous stochastic processes.

One of the most simplistic stochastic processes would be a Bernoulli process. Example: Coin-flip (repeatedly)

Example Question 1

---

This is a template. Not an actual example. This is the answer to the question, with a detailed solution. If math is needed, it can be done inline: \( x^2 = 144 \), or it can be in a centered display:

\[ \frac{x^2}{x+3} = 4y \]

And our final answer is 10. \( _\square \)