The purpose of this study was twofold. First, to explore middle and high school students' intuitively-based (mis)conceptions in probability, particularly availability and representativeness heuristics. Second, to investigate teachers' awareness of these intuitively-based (mis)conceptions and the effectiveness of their instructional practices to…

A more motivating way of introducing students to probability theory is through real-world problems. Since heuristics play an important role in our probabilistic judgement, knowing how to avoid incorrect probabilistic reasoning, which leads to several biases, could help students to develop more critical thinking skills. In this paper, we present a…

The aim of this study is to explore the judgments and reasoning in probabilistic tasks that require comparing two probabilities either with or without introducing an additional degree of uncertainty. The reasoning associated with the task having an additional condition of uncertainty has not been discussed in previous studies. The 66 undergraduate…

Purpose: The purpose of this paper is to develop a quantitative model of problem solving performance of students in the computer-based mathematics learning environment. Design/methodology/approach: Regularized logistic regression was used to create a quantitative model of problem solving performance of students that predicts whether students can…

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…