Question

State the models of stochastics processes. Explain any one with suitable diagram.

Answer 1

❧Hi my dear friend,

For the continous time system the model is called a Markov Process. The model of a stochastic process describes activities that culminate in events. The events cause a transition from one state to another. Because activity durations are assumed to be continuous random variables, events occur in the continuum of time.

~Thank you☙