AMS 553: Final Projects © The Project: team can be 5 to 7 persons (no more than 7). © Possible Project Topics: 1. 2. 3. 10. Generating correlated random variate and/or non-stationary stochastic processes. Importance sampling techniques for estimating rare event probabilities. Simulation-based optimization algorithms (e.g., stochastic approximation, simul- taneous perturbation stochastic approximation, simulated annealing, nested par- titions method, and many others) applied to solving a specific problem of interest. - Studying and/or comparing the performance of two or more simulation-based optimization algorithms on a set of benchmark optimization problems. . Simulation-based approaches for stochastic dynamic programming. 5. 6. Simulation of manufacturing systems (e.g., inventory, production). 7. 8. 9. Simulation of traffic systems (air, road, water, computer networks). . Simulation in finance (e.g,, methods for pricing financial derivatives). . Simulation of many other real systems of interest. You may also propose your own project topic other than those suggested above. Timetable for the project: © One page proposal of project team and a summary of proposed topic: Due Nov. 9th (Wednesday). Only one proposal is required from each team. The proposal should provide a description of the proposed project topic and how the workload will be distributed among different members © Project presentation: each team should select a representative to give a short 10/15- minute in-class presentation on November 30th (Wednesday). Final written report of proj due December 12th at 5pm. Note that this is the absolute deadline, no extension is allowed unless under unpredictable circumstances. Your report should be at least 5 pages long (including all figures and tables, but not Program codes), beginning with a one-page summary of problems and results. It is fine to send the report to me by email (pdf version preferred) or you can put a hard copy in my mailbox.