Which of the following are reasons why a process would be considered stochastic? 1. we lack of data on the variable of interest/generating process 2. we lack quantitative understanding of the generating process 3. the generating process itself is random  4. the process can be modelled with certainty   5. the generating process changes over time

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter12: Probability
Section12.3: Conditional Probability; Independent Events; Bayes' Theorem
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Which of the following are reasons why a process would be considered stochastic?

1. we lack of data on the variable of interest/generating process

2. we lack quantitative understanding of the generating process

3. the generating process itself is random 

4. the process can be modelled with certainty 

 5. the generating process changes over time 

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