Risk Simulation and Queuing – Statistics.Com

This online course, “Risk Simulation and Queuing” covers three important modeling techniques.

Students will learn how to construct and implement simulation models to model

• The uncertainty in decision input variables (e.g. price, demand, etc.), so that the overall estimate of interest from a model can be supplemented by a risk interval of possible other outcomes (risk simulation), and
• The variability in arrivals over time (customers, cars at a toll plaza, data packets, etc.) and ensuing queues (queuing theory). Students will also learn how to employ decision trees to incorporate information derived from models to actually make optimal decisions. Students will use spreadsheet-based software to specify and implement models.

Course Program:

• WEEK 1: Risk Analysis
• WEEK 2: Advanced Simulation
• WEEK 3: Queuing
• WEEK 4: Multistage Decision Problems

Important Date:

May 06, 2016 to June 03, 2016

Duration:

4 Weeks

Time Requirement:

About 15 hours per week, at times of  your choosing.

Fees:

INR – 37,740 (assuming $ = INR 60 )

Part Time/Full Time:

Part Time

Pre-requisites:

Risk managers, financial analysts, project managers, operations managers, and others with responsibility for specifying, creating, deploying or interpreting risk analysis and queuing models.  Users of risk analysis or queuing software who need to attain a more solid grounding in the subject.

• Excel

• Cliff Ragsdale