MTH 524 - Applications of Probability

(4 credits)

Prerequisite(s): Grad course eligibility for undergraduates: credits earned greater than or equal to 144 and gpa 2.75 OR level is graduate. Modeling techniques for probabilistic systems and analysis of Monte Carlo simulations. Discrete time Markov chains, Poisson process, Birth-and-Death process, Renewal process. Random walks and Brownian motion. Applications include queuing theory, financial models, populations, inventory theory, and optimization of stochastic systems.

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