stochastic process

Types:

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Markoff process, Markov process

a simple stochastic process in which the distribution of future states depends only on the present state and not on how it arrived in the present state

random walk

a stochastic process consisting of a sequence of changes each of whose characteristics (as magnitude or direction) is determined by chance

stationary stochastic process

a stochastic process in which the distribution of the random variables is the same for any value of the variable parameter

Markoff chain, Markov chain

a Markov process for which the parameter is discrete time values

Type of:

framework, model, theoretical account

a hypothetical description of a complex entity or process