Event Details

STOR-i Masterclass, Professor Barry Nelson, Northwestern University - Ranking & Selection for Simulation Optimization

Ranking & Selection for Simulation Optimization

“Simulation optimization” means optimizing the performance of a stochastic system that can only be analysed via simulation. If the number of feasible solutions is finite and small enough, then simulating all of them is possible; ranking & selection (R&S) procedures are algorithms for doing just that in a statistically sound and efficient way. The availability of cheap, high-performance parallel computing has redefined “small enough” to be hundreds of thousands to millions of feasible solution. This is a hands-on class in which students will learn the mathematical-statistics foundations of R&S, apply R&S procedures to simulation optimization problems, and create their own R&S procedure. Knowledge of R and R Studio is required.

Monday 23 March

09:00-12:00 Lecture1 Bowland North SR10

14:00-16:00 Lecture2 Bowland North SR10

Tuesday 24 March

09:00-12:00 Lecture3 Management School LT7