Herzblut
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- Sep 29, 2006
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This simple random walk has interesting features already.here the random walk variable is X, and since it has a memory it is arguably already a case of "biased randomness", but the steps in the random walk (the Z's on this page) are IID (that is "pure random"). as you might guess, most of the 407 other pages in this book focus on more interesting varieties of "biased randomness" - referred collectively as "stochastic processes".
For instance, the random walker will find himself almost always on the right-hand-side (X>0) or almost always on the left-hand-side (X<0).
The case where he finds himself more or less equally often left or right, is the least likely of all cases.