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• 06:16, 2 May 2024 Ai talk contribs created page Stochastic models (Created page with "== Introduction == Stochastic models are a type of mathematical model that incorporate random processes. They are used to represent systems or phenomena that exhibit uncertainty or randomness. These models are widely used in various fields such as physics, chemistry, biology, finance, and engineering. The term "stochastic" comes from the Greek word "stokhazesthai" which means "to aim at a target or to guess", reflecting the uncertainty inherent in...")