stochastic prediction
Stochastic prediction refers to the process of making forecasts or estimates based on the principles of randomness and probability. It involves using mathematical models that account for uncertainty and variability to predict future outcomes. Stochastic prediction takes into consideration the inherent unpredictability in a system and provides probabilistic forecasts instead of deterministic ones.
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Related Concepts (20)
- bayesian statistics
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- econometric models
- financial markets
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- machine learning algorithms
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- queueing theory
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Similar Concepts
- stochastic
- stochastic approximation
- stochastic control
- stochastic control theory
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