We propose a test based on Bonferroni's measure of skewness. The test detects the asymmetry of a distribution function about an unknown median. We study the asymptotic distribution of the given test statistic and provide a consistent estimate of its variance. The asymptotic relative eeciency of the proposed test is computed along with Monte Carlo estimates of its power. This allows us to perfor...

A statistical experiment was designed to check if the pairwise comparisons method, which was introduced by Fechner in 1860 and developed by Thurstone in 1927, improves the accuracy of estimation of stimuli. The experiment has been designed and implemented to minimize statistical bias. The accuracy improvement by the pairwise comparisons method (when compared with the direct rating method) is de...

We propose a simulation method for state space models which utilizes quasi-Monte Carlo method with randomization aiming at good approximation of the probability distribution at each time step. Numerical experiments shows our proposed method outperforms a traditional Monte Carlo simulation method in the estimation of model likelihood.

This paper presents an overview of techniques for improving the efficiency of option pricing simulations, including quasi-Monte Carlo methods, variance reduction, and methods for dealing with discretization error.

Abstract. Generally one encounters a substantial variation in the mechanical properties of composite laminates. This is due to the fact that a large number of parameters have to be controlled during the manufacturing process. The dispersion in the material properties can best be accounted for by modelling these as random. In this paper, FEM in conjunction with Monte Carlo Simulation is employed...

In this review paper, we introduce the recently developed Lattice Monte Carlo method for addressing and solving phenomenologically-based mass and heat transport problems especially for composite and porous materials. We describe in detail the application of this method to calculate effective mass diffusivities and to determine concentration profiles. Next, we describe in detail the application ...