Term and Year of offering: Spring 2015
Course Number and Title: MSCI 531 tochastic Process and Decision
Instructor’s Name: Fatih Safa Erenay
Course Description: See description in the Undergraduate Calendar
This course surveys fundamental decision making methods and models in operations research and operations management that incorporate random elements. Students will learn how to construct and analyze a range of stochastic decision models that are useful in the design and control of a wide variety of systems. Applications areas include the design of inventory control systems, healthcare polices, manufacturing control and reliability analysis. Topics include Markov Chains, Markov Decision Processes, and Renewal-Reward Processes with application areas noted above. Prerequisite: MSCI 431 or consent of the instructor.
Course Objectives:
N/A
Required Readings, Materials and Texts:
Course will be mostly based on class notes and F. S. Hillier and G. J.
Lieberman, Introduction to Operations Research, Seventh edition,
McGraw-Hill, New York, 2001.
This is a basic course description made available for public reference only. The Undergraduate Calendar is always the official source for all course descriptions. Course Syllabi will be distributed by the instructor in class. For additional details not found here, please contact the listed instructor.