R help - Oct 2007 - Diff. between time series and stochastic process

Hi, Can anyone give me a good explanation about what is the difference between
Stochastic Process and Time Series? In my knowledge Time series process is one
type of Stochastic process. Am I right? I need a further explanation.
   
  Thanks and regards,

       
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On 10/1/2007 8:39 AM, Megh Dal wrote:
> Hi, Can anyone give me a good explanation about what is the difference
between Stochastic Process and Time Series? In my knowledge Time series process
is one type of Stochastic process. Am I right? I need a further explanation.
You're partly right.  When thinking in terms of probability theory, 
"time series" usually means a stochastic process with a discrete time 
index.

But "time series" is also used to mean an observed series of 
observations indexed by time, and I think the closest thing for a 
stochastic process would be "a realization of a stochastic process". 
So
"time series" is not just a special case of "stochastic
process".

Duncan Murdoch