Probabilistic methods for industrial and service systems; stochastic processes used in industrial engineering, including Poisson processes and discrete and continuous-time Markov chains; applications to production operations, inventory control, revenue management, quality control, reliability, digital simulation and finance. Prerequisites: Grade of C or better in MATH 304 or MATH 323; grade of C or better in ISEN 310, STAT 212, or ECEN 303; junior or senior classification Credits 3. 3 Lecture Hours.
Probabilistic methods for industrial and service systems; stochastic processes used in industrial engineering, including Poisson processes and discrete and continuous-time Markov chains; applications to production operations, inventory control, revenue management, quality control, reliability, digital simulation and finance. Prerequisites: Grade of C or better in MATH 304 or MATH 323; grade of C or better in ISEN 310, STAT 212, or ECEN 303; junior or senior classification Credits 3. 3 Lecture Hours.
