BUAD 5052 - Decision Modeling

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Probability and Statistics is a foundation course in the study of Business Analytics. It provides an understanding of the principles associated with modeling of stochastic processes. The topics will include: Probability Theory-important probability distributions, sampling from distributions, interaction of multiple stochastic processes; Regression; Statistical Analysis-descriptive/inferential/ predictive statistics, multivariate statistics, time series models; Modeling-modeling concepts, Monte Carlo simulation, decision analytics. Students will also be introduced to a variety of statistical modeling packages.