An application of Bayesian factor analysis for evaluation of scale reliability is discussed, which is developed within the framework of latent variable modeling. The method permits direct point and interval estimation of the reliability coefficient of multiple-component measuring instruments using Bayesian inference. The approach allows also point…

A Bayesian statistics-based approach is discussed that can be used for direct evaluation of the popular Cronbach's coefficient alpha as an internal consistency index for multiple-component measuring instruments, as well as for testing its identity to scale reliability. The method represents an application of confirmatory factor analysis within the…

This paper is concerned with the process of selecting between the increasingly popular bi-factor model and the second-order factor model in measurement research. It is indicated that in certain settings widely used in empirical studies, the second-order model is nested in the bi-factor model and obtained from the latter after imposing appropriate…

Computerized adaptive testing (CAT) offers an efficient and highly accurate method for estimating examinees' abilities. In this article, the free version of Concerto Software for CAT was reviewed, dividing our evaluation into three sections: software implementation, the Item Response Theory (IRT) features of CAT, and user experience. Overall,…

Statistical Analysis Software (SAS) is a widely used tool for data management analysis across a variety of fields. The procedure for item response theory (PROC IRT) is one to perform unidimensional and multidimensional item response theory (IRT) analysis for dichotomous and polytomous data. This review provides a summary of the features of PROC…

This software review discusses the capabilities of Stata to conduct item response theory modeling. The commands needed for fitting the popular one-, two-, and three-parameter logistic models are initially discussed. The procedure for testing the discrimination parameter equality in the one-parameter model is then outlined. The commands for fitting…

The default risk, one of the main risk factors for bonds, should be measured and reflected in the bond yield. Particularly, in the case of financial companies that treat bonds as a major product, failure to properly identify and filter customers' workout status adversely affects returns. This study proposes a two-stage classification algorithm for…

We have maintained the customer grade system that is being implemented to customers with excellent performance through customer segmentation for years. Currently, financial institutions that operate the customer grade system provide similar services based on the score calculation criteria, but the score calculation criteria vary from the financial…

Typical longitudinal growth models assume constant functional growth over time. However, there are often conditions where trajectories may not be constant over time. For example, trajectories of psychological behaviors may vary based on a participant's age, or conversely, participants may experience an intervention that causes trajectories to…

The four-parameter logistic (4PL) Item Response Theory (IRT) model has recently been reconsidered in the literature due to the advances in the statistical modeling software and the recent developments in the estimation of the 4PL IRT model parameters. The current simulation study evaluated the performance of expectation-maximization (EM),…

Many organizations utilize some form of automation in the test assembly process; either fully algorithmic or heuristically constructed. However, one issue with heuristic models is that when the test assembly problem changes the entire model may need to be re-conceptualized and recoded. In contrast, mixed-integer programming (MIP) is a mathematical…

Stan is a flexible probabilistic programming language providing full Bayesian inference through Hamiltonian Monte Carlo algorithms. The benefits of Hamiltonian Monte Carlo include improved efficiency and faster inference, when compared to other MCMC software implementations. Users can interface with Stan through a variety of computing…

As an alternative to Cronbach's [alpha] for estimating scale reliability, McDonald's [omega] has attracted increased attention within the methodological community for its less stringent measurement assumptions. Notwithstanding, [omega] is still seldom used by practitioners, likely due to its unavailability in popular software packages (e.g., SPSS)…

We review the GIDNA and CDM packages in R for fitting cognitive diagnosis/diagnostic classification models. We first provide a summary of their core capabilities and then use both simulated and real data to compare their functionalities in practice. We found that the most relevant routines in the two packages appear to be more similar than…

This article reviews several software programs designed to conduct item response theory (IRT) scale linking and equating. The programs reviewed include IRTEQ, STUIRT, and POLYEQUATE. Features and functionalities of each program are discussed and an example analysis using the common-item non-equivalent groups design in IRTEQ is provided.