The growth of a population in a randomly varying environment is modeled by replacing the Malthusian growth rate with a delta-correlated normal process. The population size is then shown to be a random process, lognormally distributed, obeying a diffusion equation of the Fokker-Planck type. The first passage time p.d.f. through any arbitrarily assigned value and the probability of absorption are derived. The asymptotic behavior of the population size is investigated.
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