Define the stochastic process and classify.

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Stochastic process is a random variable that also depends on time. It is therefore a function of  two arguments, X(t, ω),

Where, t ∈ T is time, with T being set of possible times, usually [0, ∞), (-∞, ∞). {0, 1, 2, ….. }, or {…, -2, -1, 0, 1, 2, …. }; ω ∈ Ω, as before, is an outcome of an experiment, with Ω being the whole sample space. Values of X(t, ω) are called states.

 

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