Probability Seminar
Wednesday, September 28, 2016, 11:00am, McKinley Seminar Room Fuqua
Jim Dai (Cornell University)
Steins Method for Steady-State Approximations: Error Bounds and Engineering Solutions
Abstract:- Through queueing systems modeling customer call centers and hospital patient flows, I will give an introduction on how to use Stein's method both as an engineering tool for generating good steady-state approximations and as a mathematical too for establishing error bounds for these approximations. These approximations are often universally accurate in multiple parameter regions, from underloaded to overloaded (when abandonment is possible). I will focus on diffusion models for performance analysis, briefly discussing recent works by others on ergodic optimal controls and mean-field approximations. (The talk is based on joint works with Anton Braverman and Jiekun Feng from Cornell and Pengyi Shi from Purdue.)
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