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Stochastic Processes and Applications

Name: Stochastic Processes and Applications
Price: 1620.00 SGD
Rating: 3.7 (20 reviews)

Training Provider: NATIONAL UNIVERSITY OF SINGAPORE

Course Reference: TGS-2021006762

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Original: S$5,400

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About This Course

Stochastic processes describe series of events specified by laws of probability. Diverse applications of stochastic processes occur in statistics, physics, chemistry, engineering, biology, finance, medicine, psychology, and other disciplines. The aim of this module is not only to provide an introduction to the many specialised treatises on stochastic processes, but also to give students probabilistic insight and intuition in studying and solving problems. Specifically, students will learn about Markov chains and their elementary limit theorems, classical examples of continuous-time Markov chains, Brownian motion, and renewal processes.

What You'll Learn

A stochastic process is a family of random variables indexed by time or space, and it describes the dependence between random events using probabilistic laws. Stochastic processes find diverse applications in areas such as data science, machine learning, physical sciences, engineering, finance and economics, medicine and psychology. The aim of this module is to provide students with an introduction to the theory and to impart probabilistic intuition and insight to tackle problems with intrinsic randomness. The students will learn about discrete time Markov chains and the fundamental limit theorems, continuous time Markov chains, Brownian motion, and renewal processes.

Entry Requirements

BSc(Hons) in Statistics or related fields For learners without honours degree, BSc in Statistics or related fields with working knowledge of Statistics is required