Question

A stochastic process with a finite or countably infinite state space s is called

Answer 1

A stochastic process with fine or countably infinite state space is known as Markov Chain.

A Markov Chain is known to be the stochastic model which describes a sequence of possible events in which probability of every event will depends on the state obtained in the previous event.

A Stochastic process must satisfy the Markov property.

Answer 2

Hi,

Here is your answer,

Question = A stochastic process with a finite or countably infinite state space is called ?

Answer = Markov Chain.

Hope it helps you !