Stochastic Processes for Business Applications (formerly OPR 9723)

This course covers fundamental concepts of stochastic processes necessary for understanding the complex probabilistic models currently used in business applications. Stochastic processes included are Poisson processes, random walks, Markov chains, and Brownian motion. Examples are selected from various business disciplines to illustrate the use of these processes in application. This is the same course as STA 9783.