STOCHASTIC PROCESSES (2 Credits)
Learning Outcomes :
On successful completion of this course, student 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 solution for the given problem (problem on decision making under uncertainty)
Topics :
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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