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1 Introduction to Stochastic Processes

1 Introduction to Stochastic Processes

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1.3 Stochastic and deterministic models Stochastic models can be contrasted with deterministic models. A deterministic model is specified by a set of equations that describe exactly how the system will evolve over time. In a stochastic model, the evolution is at least partially random and if the process is run

  Equations, Stochastic

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