Operations Analysis Under Uncertainty
This course begins by demonstrating the need for probabilistic analyses of managerial decision making under uncertainty. Coverage will include a brief review of probability concepts, elements of Markov chains, simple waiting lines (queues), decision analysis with single and multiple attributes, probabilistic dynamic programming, and simulation. Practical applications of these topics to operations management problems will be emphasized by employing relevant computer software packages such as LINDO, LINGO, Maple, and Excel.
- Prerequisite: Q600