For those who were awaiting my next post in this series- Your wait comes to an end.
This time around I was reading a bit of Stochastic Process and came across some journals and of course our very own Wikipedia , to find some interesting applications of this so called theoretical topic.
Stochastic Processes are every where around us. They can be time series or may be random variables. Stock Market Analysts have great encounters with this statistical tool. But wondered why Electronics & Communication Engineers need to know about this?
I will get you some insight of it. Audio and video signals in communication are modeled as Stochastic Process.
Another example of Stochastic process is the Markov Chain.( The memory-less property)
A finite state machine can be used as a representation of a Markov chain. Assuming a sequence of independent and identically distributed input signals (for example, symbols from a binary alphabet chosen by coin tosses), if the machine is in state y at time n, then the probability that it moves to state x at timen + 1 depends only on the current state. Recall finite state machines in Digital Electronics. These are the base of today’s computers.