This course builds on the material covered in MSCI 431. Students will learn how to construct and analyze a range of stochastic decision models that are useful in the design and control of a wide variety of systems. Applications areas include the design of inventory control systems, telecommunication networks, healthcare polices, manufacturing control and reliability analysis. Topics include Renewal-Reward Processes, Markov Decision Processes, Matrix Analytic Methods with application areas noted above. [Offered: S] Prereq: MSCI 431
