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May 05, 2024
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STAT 8370 - Introduction to Stochastic Processes Credit Hours: 3.0
Lecture Contact Hours: 3 Lab Contact Hours: 0
Prerequisite: Graduate standing and STAT 7350
The theory and application of stochastic processes as models for empirical phenomena, with special emphasis on the Poisson, Markov, and renewal processes. Applications of stochastic processes in equipment replacement, inventory, queuing, and other related areas in business and management.
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