STAT 833Stochastic Processes 2

This course provides further ideas and methods in stochastic modelling, with an emphasis on continuous-time stochastic processes. Topics cover time to absorption based quantities and discrete phase-type distributions of discrete-time Markov chains, continuous-time Markov chains with a countable state space, limit distributions for ergodic and absorbing chains, and applications including birth and death processes and queueing models of practical interest. Other topics may include continuous phase-type distributions, renewal theory and limit theorems for regenerative processes, and phase-type renewal processes.