The purpose of this paper is to define innovation and to proffer evidence of its existence through the use of statistical method and mathematical modeling. Innovation is defined by the confidence interval of the normal probability distribution density where μ ± 2σ = 0.95 leaving a room of...

The objective of this paper is to provide a short-term forecast for the economic crisis in the EU. Most economic forecasts are forecasts for economic growth; forecasts for economic crisis are not common in the field. By using the Carrying Capacity Function from population studies as the basis...

The purpose of this paper is to point out the inherent defects of the Likert scale as a research tool. Research in social science is accomplished through survey questionnaire. The questionnaire is the instrument for the research. If the instrument is defective, the measurement would most likely...

The objective of this paper is to provide a practical tool for stock price evaluation and forecasting under Extreme Value Theory (EVT). Three existing models are reviewed; these models include: Mordern Portfolio Theory, Black-Scholes, and Jarrow-Rudd models. It was found that these models may not...

This paper presents a situation analysis for a development policy called Thailand 4.0. Thailand 4.0 aims to achieve economic prosperity, social well-being, human values and environmental protection. Two research questions are presented. Firstly, does Thailand have characteristics of a developed...

The objective of this paper is to present a case study of customer loyalty involving food services in a university canteen. The purpose is to provide a practical tool for modeling customer loyalty by using logistic function. Prior literature employed linear equation to model customer loyalty....

This paper is a theoretical review in an attempt to answer the query regarding trans-generational succession among small, medium sized, and large enterprise (SME). The theoretical review begins with Rational Expectation Theory to explain the risk of failed succession; the decision process under...

This paper introduces a new concept of distribution called circular distribution. The total area of the circle is defined as the distribution density of the binomial probability which consists of . This probabilistic sum is assumed to be equal to , the area of a unit circle. In a binomial...

There have been many discussions about sustained growth. However, no quantitative model has been created for sustained growth. This paper is the first of its kind to propose a mathematical model to defined sustained growth. The data from ten countries in the ASEAN have been used to test and...