Probabilistic Modelling in ISE

ISE 502 - Probabilistic Modelling in ISE (3-0-3)

Axioms of probability, joint conditional probability, independence, continuous, discrete and mixed random variables, functions of random variables, expectations and conditional expectations, variances and co-variances, correlation, multi-dimensional random variables. Markov chains, Poisson processes, Applications in inventory control, quality, reliability and renewal theory. Prerequisite: Graduate standing.