SMPOR BSTA 3106: STOCHASTIC MODELS & PROCESSES IN OPERATIONS RESEARCH

Level: Third Year Semester One

The course is designed to develop and analyse probability models that capture the salient features of systems under study in order to predict the effects of randomness on the systems. The course involves application of a wide range of mathematical and computational tools, and strikes a balance between mathematics and its applications in statistics. Specific covered include; conditional probability and conditional expectation. Markov chains in discrete time. The Poisson process, Markov process in continuous time.