is there any difference between random and stochastic process? i asked my teacher he told me they are the same, but stochastic is used within high class scientists, or one is AmE and the other is BrE
no.. i dont htink both are same. random processes mean, certain processes that are modeled or assumed t represent a phenomena. but stochastic processes are multiple realisations of a particular random process. let me know if u want any references for this concept.
regards.
All of the Prob. & Stochastic processes books I came across use these 2 terms synonymously.
A realisation of a stochastic process or random process is a possible scenario or an outcome. When you refer to a random/stochastic process you refer to something you don't know exactly (no exactly number) but what it could be (all of the possible scenario characterized by probability); when you refer to a realisation you refer to a certain thing (one possible scenario, e.g. coin already tossed, dice already rolled). You might not say which of the scenarios but you can refer to one of it arbitrarily.
let me know if u want any references for this concept.
is there any difference between random and stochastic process? i asked my teacher he told me they are the same, but stochastic is used within high class scientists, or one is AmE and the other is BrE