Stochastic Models & Optimisation
Aims
- Students should understand the review of Markov processes, renewal theory, regenerative processes, queuing theory and applications to inventory and maintenance models.
- Students should understand and be able to apply basic concepts and techniques of stochastic processes to model logistic problems
Information
- Poisson processes
- Renewal theory and regenerative processes
- Discrete-time Markov chains
- Continuous-time Markov chains
- Queueing models
- Markov decision processes
(with applications to inventory and maintenance models)
Extra
It is not allowed to use a programmable calculator during the (re-)examination.
Changes compared to previous years:
In response to preferences indicated by students that took the course last year, the exercise sessions will be replaced by (more) office hours.
Assessment
Written (re-)examination with essay questions (100%)
Materials
H.C.Tijms. A first course in stochastic models, Wiley, New York, 2003.
2017/2018
Lecturer
