STAT W4606x and y Elementary Stochastic Processes 3 pts. Prerequisites: STAT W3105, W4105, or the equivalent. Review of elements of probability theory. Poisson processes. Renewal theory. Wald's equation. Introduction to discrete and continuous time Markov chains. Applications to queueing theory, inventory models, branching processes. CC/GS: Partial Fulfillment of Science Requirement.