Risk, Simulation and Queuing (#621)
Issued by
Statistics.com
The course explains how to (1) construct and implement simulations to model the uncertainty in decision input variables and supplement the overall estimate of interest by a risk interval of possible other outcomes using risk simulation; (2) model the variability in arrivals over time and ensuing queues, using queuing theory; (3) how to employ decision trees to incorporate information derived from models to actually make optimal decisions.
Additional DetailsEarning Criteria
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The methods of assessment include quizzes, and more with a minimum passing score of 80%.
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Instructional strategies include: discussion, computer-based training, project-based instruction, coaching/mentoring, practical exercises, classroom exercise.
Endorsements
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American Council on Education
This credential has been successfully evaluated by the American Council on Education for college credit. It is recommended for a total of 3 Graduate college credits in Decision Science. For more information about ACE Learning Evaluations, visit www.acenet.edu. -
American Council on Education
3 semester hours in decision science in the graduate category