Definition

Relating to processes that involve randomness or probability, often used in statistics and mathematics.

Example

The researchers used a stochastic model to predict the weather patterns.

Conversation

Have you heard about the stochastic models they use in finance?

Yeah, they rely on probability to predict market trends, right?

Exactly! It's fascinating how they incorporate randomness into their calculations.

I know, it really shows how unpredictable the market can be.

Synonyms & Antonyms

Root Explanation

Stochastic → It is derived from the Greek word "stochastikos" (meaning skilled in aiming or guessing) and the root "stochazein" (meaning to aim at or guess). The term refers to processes that involve randomness or probability, emphasizing the element of chance in outcomes.

Memory Tip

Think of aiming or guessing ('stochazein') to remember that 'stochastic' relates to randomness and uncertainty in outcomes.

Visually Confused Words