
2.2 Model Type and Outcome Categorization
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Stochastic models introduce a degree of randomness or chance into a
possible set of outcomes. This randomness is intrinsic to the behavior of
the model and couples the values of the independent variables (which are
randomly derived) to the values of the outcome or dependent variables
(which are the result of processing these random values).
2.2 Model Type and Outcome Categorization
From a knowledge and system engineer’s perspective, the most crit-
ical model classification isolates the type of outcome. There are two
broad types: predictive and classification. Like taxonomic partitioning,
these types are not