16 Questions
What is a characteristic of the Wiener process?
Having independently distributed increments
What is a common application of stochastic processes?
Analyzing electric and magnetic field fluctuations
What is a characteristic of random walks?
Being discrete-time processes
What is the purpose of considering stochastic processes in decision-making?
To take into account all expected outcomes
What is a special case of continuous-time Markov process?
Birth-death process
What is an application of birth-death processes?
Studying the number of customers in line
What is a characteristic of the Wiener process in finance?
It is a continuous-time process
What is a common area of application of stochastic processes?
All of the above
What is a stochastic process also known as?
Random process
What is the system that has observations at certain times in a stochastic process?
System with random variables
What is the state space in a stochastic process?
A mathematical space where random variables are taken from
How can a stochastic process be classified?
By its state space, index set, or dependence among random variables
What is a stochastic process said to be if its index set contains a finite or countable number of elements?
In discrete time
What is a characteristic of a Bernoulli process?
A sequence of independent and identically distributed random variables
What is the Poisson process?
A stochastic process that represents a random number of points or events up to a certain time
What is a characteristic of each random variable in a stochastic process?
Each random variable is taken from the same mathematical space
This quiz covers the concept of stochastic processes, also known as random processes, which are collections of random variables indexed by a mathematical set.
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