|This course deals with some of the techniques for modeling and optimizing systems under uncertainty. It aims to increase the capability of analyzing managerial problems under uncertainty which occur, for example, in inventory and production control, telecommunications, maintenance, and insurance. The emphasis is on providing insight in the theory, on formulating an economic situation into a mathematical model and on providing practical examples in which the discussed models can be applied.|
Recommended PrerequisitesIntroduction to Probability Theory or Introduction Analysis and Probability
- Markov Chains
- Inventory models: newsvendor, EOQ, (s,Q), (R,S) policies
- Forecasting: moving average; exponential smoothing
- Elementary Queueing models and networks.
Type of instructions2 hours a week lectures, 2 hours a week tutorials
Type of examsWritten exam
- A Syllabus and handouts will be provided.