A formula is derived for a 'two-dice horse race', in which two ordinary dice are thrown repeatedly and each time the sum of the scores determines which horse (numbered 2 to 12) moves forward one space. This paper answers a question posed in a former "Teaching Statistics" article, and demonstrates the value of simulation.

The formula for the variance of a binomial distribution is both concise and elegant. However, it is often taught without reference to the underlying reasoning. That being the case, is it important, or useful, to understand why this formula can be used to calculate the requisite result? In this article, the author demonstrates a teaching sequence…

In this paper, we derive the result of the classical gambler's ruin problem using elementary linear algebra. Moreover, the pedagogical advantage of the derivation is briefly discussed.

Financial analysts generally create static formulas for the computation of NPV. When they do so, however, it is not readily apparent how sensitive the value of NPV is to changes in multiple interdependent and interrelated variables. It is the aim of this paper to analyze this variability by employing a dynamic, visually graphic presentation using…

We derive the additive property of Poisson random variables directly from the probability mass function. An important application of the additive property to quality testing of computer chips is presented.

We consider here the problem of calculating the moments of binomial random variables. It is shown how formulae for both the raw and the central moments of such random variables may be obtained in a recursive manner utilizing Stirling numbers of the first kind. Suggestions are also provided as to how students might be encouraged to explore this…

A critical numeracy examination of Benford's Law suggests that our understanding of the integers is faulty. We think of them as equally likely to turn up as the first digit of a random real world number. For many real world data sets this is not true. In many cases, ranging from eBay auction prices to six digit numbers in Google to the…

This article presents four inquiry-based learning activities developed for a liberal arts math course. The activities cover four topics: the Pythagorean theorem, interest theory, optimization, and the Monty Hall problem. Each activity consists of a dialogue, with a theme and characters related to the topic, and a manipulative, that allow students…

Descripting Statistics provides methodology and tools for user-friendly presentation of random data. Among the summary measures that describe focal tendencies in random data, the mode is given the least amount of attention and it is frequently misinterpreted in many introductory textbooks on statistics. The purpose of the paper is to provide a…

In Probability and Statistics taught to mathematicians as a first introduction or to a non-mathematical audience, joint independence of events is introduced by requiring that the multiplication rule is satisfied. The following statement is usually tacitly assumed to hold (and, at best, intuitively motivated): If the n events E[subscript 1],…

An agreement table with [n as an element of N is greater than or equal to] 3 ordered categories can be collapsed into n - 1 distinct 2 x 2 tables by combining adjacent categories. Vanbelle and Albert ("Stat. Methodol." 6:157-163, 2009c) showed that the components of Cohen's weighted kappa with linear weights can be obtained from these n - 1…

The paper shows how to find the min and max extreme interval values for the exponential and triangular distributions from the min and max uniform extreme interval values. Tables are provided to show the min and max extreme interval values for the uniform, exponential, and triangular distributions for different probabilities and observation sizes.

Distributions are the basis for an enormous amount of theoretical and applied work in statistics. While there are formal definitions of distributions and many formulas to characterize them, it is important that students at first get a clear introduction to this basic concept. For many of them, neither words nor formulas can match the power of a…

Polynomial loglinear models for one-, two-, and higher-way contingency tables have important applications to measurement and assessment. They are essentially regarded as a smoothing technique, which is commonly referred to as loglinear smoothing. A SAS IML (SAS Institute, 2002a) macro was created to implement loglinear smoothing according to…

Augustus De Morgan (1806-1871) was a significant Victorian Mathematician who made contributions to mathematics history, mathematical recreations, mathematical logic, calculus, and probability and statistics. He was an inspiring mathematics professor who influenced many of his students to join the profession. One of De Morgan's significant books…