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- 1. Explain why a proccss that is not in statistical control might not be a good candidate for experimentation. Suggest an alternative course of action that would be more effective in studying the proccss and explain your reasoning Solution Alternatives: Discrete-time Markov Chains Specific Discrete-time Markov Chains Working with Discrete Time Markov Chains Branching Processes Long Run Behavior (begin second half of course) Continuous-time Markov Chains Poisson Processes Birth-Death Processes Brownian Motion
- 2. Stochastic calculus