This article introduces an innovative sampling scheme, the median sampling (MS), utilizing individual observations over time to efficiently estimate the mean of a process characterized by a symmetric (non-uniform) probability distribution. The mean estimator based on MS is not only unbiased but also boasts enhanced precision compared to its simple…

The variance formula derived for a two-stage sampling design without replacement employs the joint inclusion probabilities in the first-stage selection of clusters. One of the difficulties encountered in data analysis is the lack of information about such joint inclusion probabilities. One way to solve this issue is by applying Hájek's…

This paper presents a comparison of three approaches to the teaching of probability to demonstrate how the truth table of elementary mathematical logic can be used to teach the calculations of conditional probabilities. Students are typically introduced to the topic of conditional probabilities--especially the ones that involve Bayes' rule--with…

We present a logistic function of a monotonic polynomial with a lower asymptote, allowing additional flexibility beyond the three-parameter logistic model. We develop a maximum marginal likelihood based approach to estimate the item parameters. The new item response model is demonstrated on math assessment data from a state, and a computationally…

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 present a logistic function of a monotonic polynomial with a lower asymptote, allowing additional flexibility beyond the three-parameter logistic model. We develop a maximum marginal likelihood-based approach to estimate the item parameters. The new item response model is demonstrated on math assessment data from a state, and a computationally…

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…

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.

The linear regression model is one of the most popular models in statistics. It is also one of the simplest models in statistics. It has received applications in almost every area of science, engineering and medicine. In this article, the authors show that adding a predictor to a linear model increases the variance of the estimated regression…

The Landau-Zener formula provides the probability of non-adiabatic transitions occurring when two energy levels are swept through an avoided crossing. The formula is derived here in a simple calculation that emphasizes the physics responsible for non-adiabatic population transfer. (Contains 2 figures.)

Research on teaching high school mathematics shows that the topic of percentages often causes learning difficulties. This article describes a method of teaching percentages that the authors used in university bridging courses. In this method, the information from a word problem about percentages is presented in a two-way table. Such a table gives…

To rule out the need for a two-parameter item response theory (IRT) model during item analysis by Rasch models, it is important to check the Rasch model's assumption that all items have the same item discrimination. Biserial and polyserial correlation coefficients measuring the association between items and restscores are often used in an informal…

A heuristic approach to explaining of the Black-Scholes option pricing model in undergraduate classes is described. The approach draws upon the method of protocol analysis to encourage students to "think aloud" so that their mental models can be surfaced. It also relies upon extensive visualizations to communicate relationships that are…

The well-known "hats" problem, in which a number of people enter a restaurant and check their hats, and then receive them back at random, is often used to illustrate the concept of derangements, that is, permutations with no fixed points. In this paper, the problem is extended to multiple items of clothing, and a general solution to the problem of…