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STAT 4508 [0.5 credit] Stochastic Models (Honours)

Review of discrete Markov chains and Poisson processes; continuous time Markov chains; pure jump Markov processes, and birth and death processes including the Q-matrix approach; the Kolmogorov equations; renewal theory; introduction to Brownian motion; queueing theory.
Prerequisite(s): STAT 3506 or permission of the School.
Also offered at the graduate level, with different requirements, as STAT 5701, for which additional credit is precluded.
Lectures three hours a week.