Definitions for "Stochastic Model"
A model in which the various coefficients that represent material properties (e.g., porosity, permeability, dispersivity) are regarded as random phenomena. This stems from the realization of the uncertainty involved in assigning specific deterministic values to such coefficients.
An analysis involving a random variable. For example, a stochastic model may include a frequency distribution for one assumption. From the frequency distribution, possible outcomes for the assumption are selected randomly for use in an illustration.
A mathematical model which contains random (stochastic) components or inputs; consequently, for any specified input scenario, the corresponding model output variables are known only in terms of probability distributions. In contrast to a deterministic model.
Keywords:  carlo, monte, simulation, see
See Monte Carlo Simulation [D05126