difference between random variable and stochastic process
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They are basically the same but “stochastic” may be used to make clear that we are talking about truly random and not the result of deterministic chaos.
There are 2 kinds of chaotic behavior, deterministic chaos and stochastic chaos. In the first case the algorithm governing the process is completely deterministic but the results are unpredictable because the sensitivity to the initial conditions exceeds any practical limits, as was discovered by Poincaré. Stochastic chaos is generated when the process itself is not governed by any deterministic laws but involves genuine randomness.
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There are 2 kinds of chaotic behavior, deterministic chaos and stochastic chaos. In the first case the algorithm governing the process is completely deterministic but the results are unpredictable because the sensitivity to the initial conditions exceeds any practical limits, as was discovered by Poincaré. Stochastic chaos is generated when the process itself is not governed by any deterministic laws but involves genuine randomness.
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