IND ENG 173 Introduction to Stochastic Processes 3 Units
Terms offered: Spring 2024, Spring 2023, Spring 2022
This is an introductory course in stochastic models. It builds upon a basic course in probability theory and extends the concept of a single random variable into collections of random variables known as stochastic processes. The course focuses on discrete-time Markov chains, Poisson process, continuous-time Markov chains, and renewal theory. It also discusses applications to queueing theory, risk analysis and reliability theory. Along with the theory, the course covers stochastic simulation techniques that will allow students to go beyond the models and applications discussed in the course.
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Objectives & Outcomes
Course Objectives: Students will learn how to model random phenomena that evolves over time, as well as the simulation techniques that enable the replication of such problems using a computer. By discussing various applications in science and engineering, students will be able to model many real world problems where uncertainty plays an important role.
Rules & Requirements
Prerequisites: Students should have taken a probability course, such as STAT 134 or IND ENG 172, and should have programming experience in Matlab or Python
Credit Restrictions: Students will receive no credit for Ind Eng 173 after taking Ind Eng 161.
Hours & Format
Fall and/or spring: 15 weeks - 2 hours of lecture and 2 hours of discussion per week
Additional Details
Subject/Course Level: Industrial Engin and Oper Research/Undergraduate
Grading/Final exam status: Letter grade. Final exam required.