Stochastic Process:-An IntroductionStochastic Process:-An Introduction
This process is dynamic that is any random phenomenonwhich is a function of time, changing over time isStochastic Process (which revolve over time).A collection or a family of random variable which is afunction of parameter ³t´ which takes in a set T(say)of real number. Here ³T´ is called Index Set and ³t´ is time.NotationIndex set may be dicrete or continuous.The set of all possible values of X(t) is called its statespace. Space is also a set it may be discrete or continuous.
T t X