BUS-K603 Probability Models for Operations Research

• 15 weeks
• 1.5 credits
• Prerequisite(s): None

The course focuses on establishing a solid understanding on probability and on how to use it to build applied models. It includes topics such as conditional probability and expectation, transforms, stochastic orders, counting processes, renewal theory, regenerative processes (including the M/G/1 queue), and semi-Markov processes. Students will apply these models to inspection and reward problems, open and closed queueing networks, and optimization problems. This course will also cover the basics of discrete-event simulation.