ST 321: Elementary Probabilistic/Stochastic Modeling
Spring 2004

General Information


Objectives

At the end of this course, the successful student will be able to solve problems related to basic probability concepts and simple stochastic processes. Students should also be able to use their knowledge of probability and stochastic processes to create realistic models of real phenomena.

In probability problems, "untrained" intuition is often misleading, as we will see in numerous examples and exercises. Computer simulation will be used to help students train their intuition as they study the properties of stochastic models. At the end of the course, students should be able to write programs for conducting computer simulations. They should be able to summarize and understand the output of these simulations. These skills will enable students to assess and improve their probabilistic models of real phenomena.

Prerequisite

Two semesters of calculus and knowledge of a programming language.

Required Textbooks

  1. Simulation, Third Edition, Sheldon M. Ross (2002), Academic Press.
  2. Introduction to Probability, Second Edition, Grinstead, Charles M. and J. Laurie Snell (1997). This book is published in bound form by the American Mathematical Society but is also available online as a pdf document.