The simulation introduces empirical vs. theoretic probabilities. It shows how probabilties can be obtained using the concepts of theoretic and empirical probabilies based on an experiment flipping three chips with each having a red and a yellow side. Continue reading Empirical Probabilities

# Tag: Undergraduates

## Quartiles

The Quartiles simulation allows instructors to showcase the process quartiles are determined and it allows students to work with examples and determine quartiles. Continue reading Quartiles

## Equilibrium

The simulation can be used to explain the concept of equilibrium including the adaptation process. It is also possible to apply ceilings and floors. Continue reading Equilibrium

## Linear Production Possibilty Curve

The simulation allows students and instructors to change the production of two goods along a linear production possibility curve. The simulation shows a diagram as well as original and changed production levels. Users can change opportunity cost as well as the level of production. Continue reading Linear Production Possibilty Curve

## Standardized Normal Distribution Curve & z-Table

The simulation displays a diagram with a standardized Gaussian normal distribution curve. The user can choose z-value(s) and the area left, right or between the chosen z-values is displayed. The simulation also calculates the related probabilities.

The simulation is well suited to support teaching the basics of normal distributed variables. It frees the instructor from working with the normal distribution table and displays the related graph interactively. Continue reading Standardized Normal Distribution Curve & z-Table

## Generalized Normal Distribution Curve

The simulation displays a diagram with a generalized Gaussian normal distribution curve. The user can choose the mean and the standard deviation for the distribution as well as value(s) for the random variable. The simulation calculates the related z-value(s) and displays the area(s) left, right or between the chosen z-values. It also calculates the related probabilities. Continue reading Generalized Normal Distribution Curve

## IS Model

This application simulates the goods market of a closed economy with autonomous taxes (i.e. taxes that are independent of the economy’s income). It can be used by instructors to support teaching the model and by students to explore how the model reacts to parameter changes and how the adaptation to a new equilibrium proceeds.

Depending on how deeply the underlying mathematical model is explained the simultation is suitable for principles, undergraduate, as well as for graduate study levels. Continue reading IS Model