The authors present a Web application they designed in the R programming language as an experiential learning tool for teaching production theory. The app simulates production decisions where a manager is tasked to find the optimal mixture of inputs through experimentation. Users of the application are instructed to use calculations and intuitions…

Commonly used methods to simulate the oxidation-reduction (redox) titration curves include the three-step method and the rigorous method. The simple three-step method simulates the redox titration curve with the assumption that the reaction is complete, which is widely used in undergraduate quantitative analysis courses. For the rigorous…

The "Borel" board game consists of a series of experiments involving dice rolls, coin flips, or drawing colored balls from bags. Before each experiment is conducted, each player bets for or bets against a statement regarding the random outcome. We suggest that the collection of "Borel" experiments be used as a resource to…

The Monte Carlo method is one of the basic simulation statistical methods which can be used both to demonstrate basic probability and statistical concepts as well as to analyse the behaviour stochastic models. The introduction part of the article provides a brief description of the Monte Carlo method. The main part of the article is concentrated…

Statistical thinking is essential to understanding the nature of scientific results as a consumer. Statistical thinking also facilitates thinking like a scientist. Instead of emphasizing a "correct" procedure for data analysis and its outcome, statistical thinking focuses on the process of data analysis. This article reviews frequentist…

The present article demonstrates a way of programming using an Excel spreadsheet to teach Fourier series expansion in school/colleges without the knowledge of any typical programming language. By using this, a student learns to approximate partial sum of the n terms of Fourier series for some periodic signals such as square wave, saw tooth wave,…

Many children fail to master fraction arithmetic even after years of instruction, a failure that hinders their learning of more advanced mathematics as well as their occupational success. To test hypotheses about why children have so many difficulties in this area, we created a computational model of fraction arithmetic learning and presented it…

While looking for an inexpensive technology package to help students in statistics classes, the author found StatKey, a free Web-based app. Not only is StatKey useful for students' year-end projects, but it is also valuable for helping students learn fundamental content such as the central limit theorem. Using StatKey, students can engage in…

The aim of this paper is to describe the innovative teaching approach used in the Southern Federal University, Russia, to teach accounting via a form of matrix mathematics. It thereby contributes to disseminating the technique of teaching to solve accounting cases using mutual calculations to a worldwide audience. The approach taken in this course…

Business simulations are a powerful way to provide experiential learning that is focussed, controlled, and concentrated. Inherent in any simulation, however, are numerous assumptions that determine feedback, and hence the lessons learnt. In this conceptual paper we describe some common cost assumptions that are implicit in simulation design and…

The need to endow marketing graduates with skills relevant to employability grows ever more important. Marketing math and elementary financial understanding are essential employability skills, particularly given the contemporary emphasis on marketing metrics, but the evidence is that marketing graduates are often relatively weak in such skills.…

In order for simulations and games to be effective for learning, instructional designers must verify that the underlying computational models being used have an appropriate degree of fidelity to the conceptual models of their real-world counterparts. A simulation/game that provides incorrect feedback is likely to promote misunderstanding and…

Sensitivity analysis is the study of how the different input variations of a mathematical model influence the variability of its output. In this paper, we review the principle of global and local sensitivity analyses of a complex black-box system. A simulated case of application is given at the end of this paper to compare both approaches.…

This article describes a simulation activity that can be used to help students see that the estimator "S" is a biased estimator of [sigma]. The activity can be implemented using either a statistical package such as R, Minitab, or a Web applet. In the activity, the students investigate and compare the bias of "S" when sampling from different…

The most common question the author's students ask is, "When will I ever use this in real life?" To address this question in her geometry classes, the author sought to create a project that would incorporate a real-world business situation with their lesson series on the surface area and volume of three-dimensional objects--specifically, prisms,…