ISyE在应用概率和模拟方面的研究范围从理论到应用。当前应用概率的方法学研究包括：排队网络的近似。排队系统，高斯过程和重尾环境中的稀有事件（例如，大偏差，极值和尾部渐近现象）。（受控或非受控）马尔可夫过程中的对偶性，混合时间和相变。算法和相关组合的设计和分析。库存理论。
ISyE's research in applied probability and simulation ranges from theory to application. Current methodological research in applied probability includes:<br><br>Approximations of queuing networks.<br>Rare events (e.g., large deviations, extreme values, and tail asymptotics) in queuing systems, Gaussian processes, and heavy-tailed environments.<br>Duality, mixing times, and phase transitions in (controlled or noncontrolled) Markov processes.<br>Design and analysis of algorithms and related combinatorics.<br>Inventory theory.<br>On the simulation side, one finds projects that seek to improve the efficiency and validity of complicated simulations. Examples of such efforts include:<br><br>Optimization of simulation models (e.g., via adaptive random search, ranking and selection, or multinomial selection).<br>Simulation of stochastic processes with strong dependencies.<br>Sequential procedures for estimating quantiles.<br>Variance reduction methods to estimate option prices.<br>Sampling from model manifolds.