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Dec 22, 2024
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2024 - 2025 Graduate Catalog
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BUAD 5032 - Stochastic Modeling (3)
Stochastic Modeling 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); statistical analysis (descriptive/inferential/predictive statistics, multivariate statistics, time series models); and modeling (modeling concepts, Monte Carlo simulation, decision analytics). Students will also be introduced to a variety of statistical modeling packages.
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