A BRIEF LITERATURE ON PROBLEMS AND PERSPECTIVES OF MATHEMATICAL AND STOCHASTIC MODELLING

Abstract

This research article mainly explores on problems and perspectives of mathematical and stochastic modeling. There is a large element of compromise in mathematical modelling. The majority of interacting systems in the real world are far too complicated to model in their entirely.In this research paper an extensive discussion has been made on linear models,nonlinear models,static models,dynamic models.A comparative study is done between the pairs explicit and implicit model,discrete and continuous model,deterministic and probabilistic model. In this talk a brief discussion on different types of models has been proposed and the concept of stages of model building is extensively discussed.Problems of stochastic model building are presented in a lucid manner and this literature is highly helpful for young researchers in stochastic modeling.