Stochastic Processes II

3 credits · College of Engineering catalogue

Advisory Prerequisite: IOE 515. Enforced Prerequisite: None. (3 credits) This course emphasizes the use of Markov Chains in theory and practice. General knowledge of probability theory and stochastic processes is assumed. Applications may include equipment replacement, queueing systems and production systems. Methodologies covered include invariant measures and stationary distributions for both the discrete and continuous cases.