Stochastic Processes: Markov Chains

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Markov Chains: Transition Probabilities

Explores Markov chains, transition matrices, distribution, and random walks.

Inventory Control: Newsvendor

Covers inventory control focusing on the Newsvendor model and its extensions in uncertain demand scenarios.

Markov Chains: Definitions and State Probabilities

Covers the definitions and state probabilities of discrete-time Markov chains.

Inventory Management: Principles and Models

Explores inventory management principles, decision variables, costs, and models like EOQ and EPQ, including challenges in implementing optimal order quantities.

Bonus Malus System: Transition Probabilities

Explores the Bonus Malus system for insurance premiums and Markov chain transition probabilities.

Coupling of Markov Chains: Ergodic Theorem

Explores the coupling of Markov chains and the proof of the ergodic theorem, emphasizing distribution convergence and chain properties.

Stochastic Models: Absorbing Markov Chains Examples

Covers examples of absorbing Markov chains in discrete time.

Continuous Time Markov Chains

Introduces continuous time Markov chains on a finite state space with exponential waiting times and jump probabilities.

Inventory Control: EOQ Model

Explores inventory management basics, EOQ model sensitivity, inventory decisions components, and supply chain strategies.

Inventory Management Models

Explores inventory management models, including EOQ and Safety Stock, addressing demand and supply uncertainties.