Explain a stochastic process simply

Q: Explain a stochastic process simply

This question evaluates understanding of stochastic processes and the ability to translate statistical concepts into plain language, including recognizing how a process differs from a single random variable and how properties like independence or stationarity inform intuition.

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In plain, non-technical language, explain what a stochastic process is to a hiring manager.

Include:

An intuitive definition (what varies, and what it varies over).
A concrete real-world example.
How it differs from a single random variable.
(Optional) One key property you might mention in practice (e.g., independence, stationarity, Markov property) and what it means intuitively.

Explain a stochastic process simply

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Explain a stochastic process simply

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