Stochastic
Stochastic refers to a process or a system that involves a random variable. In data science, stochastic models are used to represent uncertainty and randomness in data. These models are used to make predictions and to estimate the probability of different outcomes. Stochastic processes are used in many areas of data science, including finance, economics, and machine learning. In finance, stochastic models are used to model the behavior of stock prices and other financial instruments. In economics, stochastic models are used to model the behavior of markets and to make predictions about economic trends. In machine learning, stochastic gradient descent is a popular optimization algorithm that is used to train deep neural networks. Stochastic simulations are also used to model complex systems, such as weather patterns and traffic flow.
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