Prerequisite: (STAT 203 or STAT 335) and (MATH 212 or MATH 266).
This course discusses topics such as finite-state Markov processes and Markov chains, classification of states, long-run behavior, continuous time processes, birth and death processes, random walks, and Brownian motion.
Outcomes: Students will obtain a background in stochastic processes that will allow them to apply them in areas like genetics, population growth, inventory, cash management, and gambling theory.
This course discusses topics such as finite-state Markov processes and Markov chains, classification of states, long-run behavior, continuous time processes, birth and death processes, random walks, and Brownian motion.
Outcomes: Students will obtain a background in stochastic processes that will allow them to apply them in areas like genetics, population growth, inventory, cash management, and gambling theory.