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• 00:07, 9 September 2022 Rmanwaring talk contribs created page Stochastic Modelling (Created page with "__NOTOC__ ---- <!-- Delete any sections that are not necessary to your topic. Add pictures/sections as needed --> “A stochastic process is one in which there is a chance component in each successive event and ordinarily some degree of correlation between successive events. Modeling of a stochastic process involves the use of the ‘Monte Carlo’ method of adding a random (chance) component to a corelated component in order to construct each new event. The correlated c...")