statistical independence

(redirected from Stochastically independent)

statistical independence

[stə′tis·tə·kəl ‚in·də′pen·dəns]
(statistics)
Two events are statistically independent if the probability of their occurring jointly equals the product of their respective probabilities. Also known as stochastic independence.

statistical independence

See CORRELATION.
References in periodicals archive ?
All random variables are treated as stochastically independent.
However, the event that individual i suffers a loss is stochastically independent from the event that individual j, j [not equal to] i, suffers the loss; that is, the risks are not correlated across individuals.
In the case of system consisting of m individual stochastically independent conditioned elements with reliabilities [P.
2] be stochastically independent of each other and distributed according to [F.
is the conventional bivariate distribution process of two stochastically independent annual extreme effects [15].
It is usually assumed that the process {N (t)} and {Un} are stochastically independent.
Moreover the numbers of events in disjoint sets are stochastically independent.
A common feature of the above mentioned papers is that they assume domestic and foreign markets to be stochastically independent.
Within this model environment, we derive the partial equilibrium and show that aggregate mortality risk does not influence optimal decisions if it is stochastically independent of other sources of the individual's income risk.
and U are the nodal accelerations, velocities and displacements vectors; L is the united vector of stochastically independent gravity and lateral actions [13].
We further assume that claims and asset prices are stochastically independent, that there are no taxes, and that the insurance company cannot raise additional capital.
if claims in respect of asset types k, 1 are assumed stochastically independent, and [[Delta].