SYS 3060 - Stochastic Decision Models

Introduction to mathematical modeling of forecasts and decisions under uncertainty using principles of statistical decision theory; judgmental and Bayesian techniques for probabilistic forecasting; forecast verification methods; static and sequential decision models for quality control, inventory control, queue management, hazard warnings; and economic, investment, and weather-sensitive decisions. Prerequisite: APMA 3100 and 3120, or instructor permission.

Credits: 3