Abstract
The phrase “stochastic process” is used when we have a collection of random variables, indexed by a time parameter, so that they have a natural order. Examples include the size of our capital after a series of investments in the stock market, or other casinos; the accumulated number of points of a football team during the season; a student’s Grade Point Average as she progresses through college; your own weight as you strive for the target you set yourself; the temperature in your home.
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© 2002 Springer-Verlag London
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Haigh, J. (2002). Stochastic Processes in Discrete Time. In: Probability Models. Springer Undergraduate Mathematics Series. Springer, London. https://doi.org/10.1007/978-1-4471-0169-7_7
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DOI: https://doi.org/10.1007/978-1-4471-0169-7_7
Publisher Name: Springer, London
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Online ISBN: 978-1-4471-0169-7
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