DeGroote School of Business

Course Description

Q771 - Stochastic Processes with Business Applications

Stochastic processes and their applications in modelling the business environment. Emphasis is on understanding and applying the concepts in modelling, rather than on a strictly mathematical approach. Markov chains, Poisson processes, “birth” and “death” processes, queuing systems, elementary renewal theory, and diffusion processes are discussed. Individual student participation is also required in selecting, researching and presenting topics on stochastic process applications.

  • Prerequisite: O711 or permission of the instructor

Course Offerings

Fall 2022

Code Section Outline
Q771 C01 Outline

Fall 2020

Code Section Outline
Q771 C01 Outline

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