In probability theory, a purely stochastic system is one whose state is non-deterministic (i.e., “random”) so that the subsequent state of the system is determined probabilistically. Any system or process that must be analyzed using probability theory is stochastic at least in part. Stochastic systems and processes play a fundamental role in mathematical models of phenomena in many fields of science, engineering, and economics. Stochastic comes from a Greek word, which means “aim”. It also denotes a target stick; the pattern of arrows around a target stick stuck in a hillside is representative of what is stochastic. … Stochastic google