Introduction to Stochastic Models in Operations Research

3 Credits

Formulating, analyzing, and solving mathematical models of real-world problems in systems exhibiting stochastic (random) behavior. Discrete and continuous Markov chains, queueing theory, inventory control, Markov decision process. Applications typically include traffic flow, call centers, communication networks, service systems, and supply chains. Prerequisites: ISE 111 or IE 111 or MATH 231