DSO 516 Probability and Data Modeling. (1.5 Units) Uncertainty is everywhere. Our objective is to use probability theory to find structure in this uncertainty. We do this by building probability models from data. These models can then be used as input into simulation models – either Monte Carlo models that focus on decision-making under uncertainty (see DSO 536) or Discrete event models that focus on incorporating variability in process analysis (see DSO534).
DSO 536 Monte Carlo Simulation and Decision Models. (1.5 Units) Businesses must make decisions in the face of uncertainty every day. Hence it is important to understand methodology for dealing with uncertainty. Simulation is a way to account for randomness in decision-making, by furnishing the decision-maker with a range of possible outcomes, and their probabilities of occurrence for each possible course of action. This can then be used for optimization purposes.
DSO 534 Discrete-Event Simulation. (1.5 Units) Uncertainty and variability have large impacts on system performance. However, process analysis does not provide a reliable methodology for predicting the effect of uncertainty on performance measures such as delay. Discrete event simulation methodology does. The goal of this course is to build discrete-event simulation models in order to evaluate system design decisions, and to improve them.
DSO 677 Markov Decision Processes. (3 Units) In this course, you will learn a methodology for optimizing sequential decision making under uncertainty. We will formulate and solve finite horizon and infinite horizon Markov decision process models under several optimality criteria. We will consider both discrete and continuous-time models.
BUAD 311 Operations Management. (4 Units) This is a core undergraduate course, required of all business majors. Operations managers are primarily concerned with the design, procurement, production, and delivery of goods and services. This course provides tools and methods that can be used to determine how to do that in an efficient manner, and in accordance with the business strategy of the company.