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Ms&e 121 Introduction to Stochastic Modeling I. Review of Probability Theory

Our principal goal, in this section, is to quickly review the basic ideas and concepts of probability theory. For additional background and examples, please consult the text used for your prerequisite probability class and/or the following books: 1 What is Stochastic Modeling? Stochastic modeling concerns the use of probability to model real-world situations in which uncertainty is present. Since uncertainty is pervasive, this means that the tools of this course can potentially prove useful in almost all facets of one's professional life (and sometimes even in one's personal life):