Modeling and analysis of dynamic systems subject to uncertainty. Topics include design of simulation experiments, probability review, output analyses, data structures and discrete-event simulation modeling.
Stochastic Models OIE 3510
Probabilistic models and decision-making under risk. Topics covered include discrete time Markov chains, a review of the exponential distribution and its properties, the Poisson process, queueing systems, Monte Carlo simulations and decision trees.
Risk Management and Decision Making OIE 542
(formally Operations Risk Management OIE 541)
Decision making under uncertainty. Topics include decision trees, Monte Carlo simulations, value of information, utility, multi-attribute choice, and applications in operations risk management and design such as quality assurance and supply chains.