Definition:Mathematical Model/Constant

Definition

Let $P$ be a stochastic process which is being modelled by means of a model $M$.

A constant of $M$ is a number which implements some aspect of $P$ which is not changed during the evolution of $P$.

Sources

• 1994: George E.P. Box, Gwilym M. Jenkins and Gregory C. Reinsel: Time Series Analysis: Forecasting and Control (3rd ed.) ... (next):

$1$: Introduction:

$1.3$ Basic Ideas in Model Building:

$1.3.1$ Parsimony