I’ve learned some basic probability theory, like random variables, pdfs, cdfs, joint pdf, renewal processes, etc.
However, I know nothing about Markov chain. I don’t even understand the definitions of ***stochastic processes*** (especially those notations). Is it simply *”**random* *events that occur one after another”*?
Can someone explain stochastic processes in plain English? Can I say it is a collection of RVs along a timeline?