Given sample data, how do you calculate the value of a parameter? While this question is impossible to answer, it is frequently encountered in statistics classes when students are introduced to the distinction between a sample and a population (or between a statistic and a parameter). It is not uncommon for teachers of statistics to also confuse…

It has become increasingly important for future business professionals to understand statistical computing methods as data science has gained widespread use in contemporary organizational decision processes in recent years. Used by scores of academics and practitioners in a variety of fields, Monte Carlo simulation is one of the most broadly…

Simulation modeling is an effective tool for solving problems that cannot be explained analytically or when data cannot be collected. This is done by simulating the observed behavior of a problem under study using a computer program. In math education, this can develop knowledge and fundamental competencies of simulation modeling at a higher level…

When researchers code behavior that is undetectable or falls outside of the validated ordinal scale, the resultant outcomes often suffer from informative missingness. Incorrect analysis of such data can lead to biased arguments around efficacy and effectiveness in the context of experimental and intervention research. Here, we detail a new…

We use Markov chain Monte Carlo (MCMC) analysis to construct a three-question math quiz to assess key skills needed for introductory finance. We begin with data collected from a ten-question criterion-referenced math quiz given to 314 undergraduates on the first day of class. MCMC indicates the top three questions for predicting overall course…

Cognitive diagnostic models (CDMs) are a family of psychometric models designed to provide categorical classifications for multiple latent attributes. CDMs provide more granular evidence than other psychometric models and have potential for guiding teaching and learning decisions in the classroom. However, CDMs have primarily been conducted using…