STATS 320 - Applied Stochastic Modelling
Faculty
Science
Department
Statistics
Points:
15
Available Semesters:
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Course Components
Labs
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Lectures
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Description: Construction, analysis and simulation of stochastic models, and optimisation problems associated with them. Poisson process, Markov chains, continuous-time Markov processes. Equilibrium distribution, reaching probabilities and times, transient behaviour. Use of R to simulate simple stochastic processes. Examples drawn from a range of applications including operations research, biology, and finance.
Prerequisites / Restrictions
Prerequisite: 15 points from STATS 125, 210, 225 and 15 points from STATS 201, 208, 220, or ENGSCI 314
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