15 073J - Applied Probability and Stochastic Models

Description
Prereq: 6.041B or 18.600. A vigorous use of probabilistic models to approximate real-life situations in Finance, Operations Management, Economics, and Operations Research. Emphasis on how to develop a suitable probabilistic model in a given setting and, merging probability with statistics, and on how to validate a proposed model against empirical evidence. Extensive treatment of Monte Carlo simulation for modeling random processes when analytic solutions are unattainable.
Credits
12
Recent Professors
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Recent Semesters
Fall 2019
Offered
MW
Avg. Sections
1