Probability and Decision Modelling

Victoria University of Wellington

Course Description

  • Course Name

    Probability and Decision Modelling

  • Host University

    Victoria University of Wellington

  • Location

    Wellington, New Zealand

  • Area of Study

    Mathematics, Statistics

  • Language Level

    Taught In English

  • Course Level Recommendations

    Lower

    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credit Points

    15
  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4 - 6
  • Overview

    An introduction to probability models in statistics, decision making and operations research including key concepts of probability, random variables and their distributions, decision theory and queueing systems. Goodness of fit tests are used to check the validity of fitted models.

    Course learning objectives
    Students who pass this course should be able to:

    • understand elementary probabilistic or statistical models and the role of operations re-search in decision problems,
    • be able to formulate, solve and interpret simple models in a variety of applications,
    • appreciate the power, utility and generality of model-based approaches to real situations
    • be able to use goodness of fit tests to critically assess the validity of fitted models.

Course Disclaimer

Courses and course hours of instruction are subject to change.

Eligibility for courses may be subject to a placement exam and/or pre-requisites.

Some courses may require additional fees.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.

Please reference fall and spring course lists as not all courses are taught during both semesters.

Availability of courses is based on enrollment numbers. All students should seek pre-approval for alternate courses in the event of last minute class cancellations

Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.