👉 Stochastic, as defined in mathematics and probability theory, refers to a random variable that is determined by its past values rather than its current state. This means that the value of the stochastic variable depends on the outcome of previous events, and it can change based on new information or events. In other words, stochastic variables are random quantities that cannot be predicted with certainty at any given time. They are generated from a probabilistic model that takes into account the past outcomes of similar events, which in turn
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