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A Brief Introduction to Stochastic Processes

  • Esra BasEmail author
Chapter

Abstract

This chapter was a very brief introduction to the basic concepts of the stochastic processes including the definition of a stochastic process, a discrete-time and continuous-time stochastic process, state space, i.i.d. stochastic process, stopping time, and the hitting time of a process to a state. Some typical examples and problems including the daily stock prices of a company, and the evolution of the population of a country have been provided to clarify the basic concepts.

Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  1. 1.Industrial EngineeringIstanbul Technical UniversityIstanbulTurkey

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