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Discrete time processes Predictions are cult. Especially about the future Mark Twain. Florian Herzog 2013Modeling observed detached we model observed (realized) data, we usually encounter the following
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Determine the discrete time intervals you want to analyze.
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Collect data related to the process at each time interval.
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Create a table or a spreadsheet to record the collected data.
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Discrete time processes refer to a sequence of random variables indexed by integers.
Any organization or individual who deals with discrete time processes in their business operations is required to file them.
Discrete time processes can be filled out by gathering data on the random variables involved and following the specific instructions for reporting them.
The purpose of discrete time processes is to analyze and model random behavior over time in a systematic way.
Information such as the probability distribution, mean, variance, and other statistical properties of the sequence of random variables must be reported.
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