The course is designed to provide an introductory understanding of the fundamentals of uncertainty quantification in business decision making. The course will serve as a building block for subsequent course work in inferential statistics, predictive analytics, and time series analysis. The topics include the axioms of probability theory, random variables, probability distributions, random variable generation using simulation methods, and system simulation for relevant business applications (e.g. inventory management, supply chain management, and staffing in call centers). An introduction to the programming language R will be part of the learning experience.