Leader: John Betts
Caulfield First semester 2005 (Evening)
Synopsis: Probability and statistics, modelling random processes, discrete event simulation, analysis of simulation output using spreadsheets and statistical packages. Waiting lines and queues, the exponential distribution, queue discipline and competing measures of performance. Solving combinatorial problems and testing the feasibility of solutions. Time series analysis and forecasting. Inventory modelling, the cost of holding and replenishing inventory, determining the optimal inventory replenishment policy.
Assessment: Examination (2 hours): 40% + Six assignments: 60% + If exam mark is 50% or more and performance in all assignments is satisfactory, the unit mark will be determined from 60% of assignment marks and 40% of the exam mark. Otherwise, the exam mark will be returned.
Contact Hours: 3 contact hours per week, comprising of six sets of briefing, workshop and review sessions held fortnightly, of duration 2, 2.5 and 2 hours respectively