Stat 568 Applied Probability II

Basic concepts of probability, conditional probability, conditional expectation, discrete-time Markov chains, branching processes, Poisson processes, continuous-time Markov chains, birth and death processes, queues and inventory, renewal processes. This is the second course in a sequence of two: Stat 567 and Stat 568 which must be taken in sequence. Also offered for undergraduate-level credit as Stat 468 and may be taken only once for credit.