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Searched for: "15.073" Subjects offered any term 1 subject found.
15.073[J] Applied Probability and Stochastic Models
(
)
(Same subject as 1.203[J], IDS.700[J])
Prereq: 6.041B or 18.600
Units: 3-0-9
Lecture: MW10.30-12 (E51-151)
A vigorous use of probabilistic models to approximate real-life situations in Finance, Operations Management, Economics, and Operations Research. Emphasis on how to develop a suitable probabilistic model in a given setting and, merging probability with statistics, and on how to validate a proposed model against empirical evidence. Extensive treatment of Monte Carlo simulation for modeling random processes when analytic solutions are unattainable.
A. Barnett
Textbooks (Fall 2018)
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