stochastic distribution

["Walter Lake" <wlake@xxxxxxxxx>]

Does anyone know what a "stochastic distribution" of the day's range is?

I assume that it is the normalization of the day's range between 0 and 100
for the high and the low and that the open would be placed "on" the
distribution ... say at 65.

Could anyone explain the enclosed slide "A Stochastic Relationship" which
shows 3 high low daily ranges from

http://econ-www.newcastle.edu.au/economics/econ245/lecture2/sld015.html

Best regards

Walter

Attachment Converted: "c:\eudora\attach\img015.gif"