Stochastic Models & Optimisation
Aims
Students should understand and be able to apply basic concepts and techniques of stochastic processes to model logistic problems.
Information
Review of Markov processes, renewal theory, regenerative processes, queuing theory and applications to inventory and maintenance models.
Assessment
Written (re-)examination with essay questions (100%).
Materials
H.C.Tijms. A first course in stochastic models, Wiley,New York, 2003 (ISBN: 0-471-49881-5)
2014/2015
