Example of Stochastic Optimization and Optimal Control
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, 09-24-2024 at 06:53 AM (72 Views)
more...Stochastic modeling and control optimization are mathematical methods that help solve problems under uncertainty. They are used in finance, engineering, artificial intelligence, and many other areas.
Stochastic modeling is used to describe systems with random elements, such as stock market price movements or a queue at a restaurant. It is based on random variables, probability distributions, and stochastic processes. Methods such as Monte Carlo and Markov chains can model these processes and predict their behavior.