A sample path is a realization of a stochastic process, representing one possible outcome or sequence of events that the process can take over time. It provides a concrete example of how the random variables in the process evolve, allowing for analysis and visualization of the process's behavior under specific conditions.

Sample Path

Realization of a stochastic process

Possible outcome

A sequence of events refers to the chronological order in which events occur, providing a framework for understanding the progression and causality within a narrative or process. Recognizing and analyzing sequences of events is crucial for comprehending complex systems, storytelling, and historical analysis, as it helps identify patterns, causes, and effects.

Sequence Of Events

A random variable is a numerical outcome of a random phenomenon, serving as a bridge between probability theory and real-world scenarios by assigning numerical values to each outcome in a sample space. They are categorized into discrete and continuous types, each with specific probability distributions that describe the likelihood of their outcomes.

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