In preparation for online administration of the ACT® test, ACT conducted studies to examine the comparability of scores between online and paper administrations, including a timing study in fall 2013, a mode comparability study in spring 2014, and a second mode comparability study in spring 2015. This report presents major findings from these…

Within the general framework of a multifactor term structure model, the fundamental partial differential equation (PDE) satisfied by a default-free zero-coupon bond price is derived via a martingale-oriented approach. Using this PDE, a result characterizing a model belonging to an exponential affine class is established using only a system of…

The multiplicity of variables describing the financial conditions of postsecondary institutions makes it difficult to assess changes in higher education finance from year to year and to find the relationship between these finance variables and average faculty salaries. This study sought to determine if a small number of factors could be derived to…