from The American Heritage® Dictionary of the English Language, 5th Edition.
- noun A sequence of changes, either in the value of a random variable or in a process (as in the price of a share of stock), in which the direction and size of each change is randomly determined, subject to some specified rules.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun mathematics A
stochastic pathconsisting of a seriesof sequential movements, the direction(and sometime length) of which is chosen at random
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- noun a stochastic process consisting of a sequence of changes each of whose characteristics (as magnitude or direction) is determined by chance
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