Simulation for Decision Making

Master of Management in Operations Research Program

Simulation is a widely used methodology in both industry and academia because it is a vital tool for decision making under uncertainty. This course covers the foundations of simulation modeling and teaches students how to use a popular simulation modeling software package (Arena). Topics include: Monte Carlo simulation, input modeling, statistical analysis of simulation output, verification and validation of simulation models, model building and analysis with the Arena simulation software, variance reduction techniques, and simulation optimization.

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Managerial Decision Modeling & Analytics

Master in Business Administration Program

The success of many organizations, across a variety of industries, hinges on the ability to combine available data with advanced analytical techniques to improve decision making. Students taking this course learn how to use Excel to solve challenging decision problems in several types of business applications. Methodologies covered include Linear/Integer Programming and Monte Carlo simulation (using @Risk).

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Markov Decision Processes

PhD Program

MDPs help determine how to make optimal decisions that occurs sequentially and under uncertainty. This course covers the theory and application of infinite-horizon MDPs. Topics covered include: discounted cost models, stochastic shortest path (undiscounted) models, average cost models, proving structural properties, approximate dynamic programming, and applications of MDPs.

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MBA Program
Managerial Decision Modeling & Analytics
sp
MMOR Program
Simulation for Decision Making
Advanced Simulation for Decision Making sp
PhD Program
Markov Decision Processes sp
Executive Education Program
Business Analytics for Competitive Advantage sp
Undergraduate Program
Operations Management
Business Statistics