Credits: 7.5

Type: bridging

Objectives:

To understand the probabilistic properties and applicability of the most widely used stochastic processes in diverse areas.

Knowledge:

• Markov chains.
• Discrete-time martingales.
• Poisson processes.
• Queuing processes.
• Stationary processes.
• Brownian movement.

Subject-specific competences:

• To be able to describe a stochastic process and explain the probabilistic properties of the most common stochastic processes.
• To calculate probabilities under different kinds of dependence.
• To understand the kinds of phenomena that can be described using different kinds of processes.