STOCHASTIC PROCESSES (2 SCU)
On successful completion of this course, students will be able to: identify Identify a stochastic process in the system; perform Perform Monte Carlo simulation for probabilistic modeling tools; apply Apply Markov Chain and Queuing models for various real world applications; propose Propose solution for the given problem (problem on decision making under uncertainty).
- Introduction to stochastic processes;
- Monte Carlo Simulation;
- Markov Chains;
- Renewal Theory and Its Applications;
- Queuing Systems;
- Decision Analysis and Game Theory.
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