Overview
Description
A survey of stochastic operations research: decision analysis, reliability theory, Markov chains, queuing theory, stochastic inventory theory.
Units
Lecture3
Catalog Details
Offering
Offered: Every Fall - Odd Years
Terms
fall
Attributes
Standard
Learning Outcomes
- set up, model, and solve real world problems from the business and non-business world as problems in decision analysis, reliability theory, queuing theory, or stochastic inventory theory.
- demonstrate knowledge of the mathematical theories of: decision analysis, risk theory, reliability theory (including models with a true time component), Markov Chains, birth-death processes (especially queues), and stochastic inventory theory.