👉 Stochastic refers to a random variable that can take on any value at any time, without any inherent pattern or rule. This means that the values of the stochastic variable are unpredictable and cannot be predicted with certainty.
In other words, if you have a stochastic variable, it is not guaranteed to follow a specific pattern or sequence. Instead, its values are random and subject to change based on various factors such as time, environment, and external events.
Stochastic variables can take on many different forms,
stochastical