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This course covers the formulation, solution, and application of models for decision-making under uncertainty and risk. Probabilistic and statistical methodologies - including decision analysis, queueing theory,
stochastic process, Markov chains, and simulation models - are used to address problems in the design, management, and usage of efficient systems for producing goods and delivering services. Specialized
software and spreadsheet add-ins will be used for model-building and problem-solving. There is a weekly one-hour laboratory. Prerequisite: EMIS 3340
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