American Journal of Applied Mathematics and Statistics

The penalty function based on misclassification of a pure diagonal bilinear process of order two as a moving process of order two was derived in this study. Computation of penalties using the penalty function revealed that such misclassification increases the error variance. Regression analysis of the penalties on the parameters of the pure diagonal bilinear process suggested a second order polynomial regression model. A test of significance of each of the parameters of the fitted model showed that all the parameter estimates were statistically significant at 5% level of significance. The analysis of variance technique was also used to confirm the adequacy of the fitted model.

American Journal of Applied Mathematics and Statistics. 2014, 2(1), 47-52. DOI: 10.12691/ajams-2-1-8
Pub. Date: February 18, 2014

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Effects of Automated Teller Machine on the Performance of Nigerian Banks

by Jegede C.A.

Original Research

This study investigates the effects of ATM on the performance of Nigerian banks. Available studies have concentrated on the significant dimensions of ATM (automated teller machine) service quality and its effect on customer satisfaction with a bias against ATM producers. The study is motivated by the astronomical challenges confronting the proliferation of ATM infrastructure and attendant financial losss to banks which are often under-reported. Also, there are serious debate on the relevance of ATM technology as most countries in the world are moving away from the virus technology to the more secured chip cards free of credit and debit frauds. Questionnaire was used to collect the data from a convenience sample of 125 employees of five selected banks in Lagos State with interswitch network. Therefore, data collected through the questionnaire were analyzed statistically by using the Software Package for Social Science (SPSS Version 20.0 for Student Version) and chi-square technique. The results indicate that less than the benefits, the deployment of ATMs terminals have averagely improved the performance of Nigerian banks because of the alarming rate of ATM fraud. Similarly, ATM service quality is less correlated to security and privacy of users and providers.The conclusion therefore is that banks should strive to increase their security layers to subvert the tricks of web scammers, limit the amount which customers may be allowed to withdraw at a time and provide electronic alerts to customers’phone for all transactions carried out on their bank accounts through ATMs and the provisions of extra security layer that can prevent third party to make use someone else’s ATM card for unauthorized withdrawals electronically.

American Journal of Applied Mathematics and Statistics. 2014, 2(1), 40-46. DOI: 10.12691/ajams-2-1-7
Pub. Date: February 14, 2014

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A Study on New Sequence of Functions Involving

-Function

by Praveen Agarwal, Mehar Chand and Saket Dwivedi

Original Research

A remarkably large number of operational techniques have drawn the attention of several researchers in the study of sequence of functions and polynomials. Very recently, Agarwal and Chand gave certain new sequence of functions involving the special functions in their series of papers. In this sequel, here, we aim to introduce a new sequence of functions involving the Generalized Mellin-Barnes Type of Contour Integrals by using operational techniques. Some generating relations and finite summation formulae of the sequence presented here are also considered. These generating relations and finite summation formulae are unified in nature and act as key formulae from which, we can obtain as their special cases.

American Journal of Applied Mathematics and Statistics. 2014, 2(1), 34-39. DOI: 10.12691/ajams-2-1-6
Pub. Date: January 22, 2014

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Evaluation of Mean Time to System Failure of a Repairable 3-out-of-4 System with Online Preventive Maintenance

by U.A. Ali, Saminu I. Bala and Ibrahim Yusuf

Original Research

Most of the literature assumed that systems undergo preventive maintenance. Little literature is found on whether the preventive maintenance is online or offline. It is known that most of the engineering systems undergo both online and offline preventive maintenance. In this paper, we studied the mean time to system failure of a repairable redundant 3-out-of-4 system with online preventive maintenance involving four types of failures. We develop the explicit expressions for mean time to system failure for the system using Chapman-Kolmogorov equations. Various cases are analyzed graphically to investigate the impact of system parameters on mean time to system failure. Results have shown that system with online preventive maintenance is better in terms of mean time to system failure of system than system without preventive maintenance.

American Journal of Applied Mathematics and Statistics. 2014, 2(1), 29-33. DOI: 10.12691/ajams-2-1-5
Pub. Date: January 14, 2014

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Application of Sarima Models in Modelling and Forecasting Nigeria’s Inflation Rates

by Otu Archibong Otu, Osuji George A., Opara Jude, Mbachu Hope Ifeyinwa and Iheagwara Andrew I.

Original Research

This paper discussed the Application of SARIMA Models in Modeling and Forecasting Nigeria’s Inflation Rates. Time series analysis and forecasting is an efficient versatile tool in diverse applications such as in economics and finance, hydrology and environmental management fields just to mention a few. Among the most effective approaches for analyzing time series data, the method propounded by Box and Jenkins, the Autoregressive Integrated Moving Average (ARIMA) was employed in this study. In this paper, we used Box-Jenkins methodology to build ARIMA model for ’s monthly inflation rates for the period November 2003 to October 2013 with a total of 120 data points. In this research, ARIMA (1, 1, 1) (0, 0, 1)12 model was developed, and obtained as = 0.3587y_t+0.6413y_t-1-0.8840e_t-11-0.7308912e_t-12+0.8268e_t. This model is used to forecast ’s monthly inflation for the upcoming year 2014. The forecasted results will help policy makers gain insight into more appropriate economic and monetary policy in other to combat the predicted rise in inflation rates beginning the first quarter of 2014.

American Journal of Applied Mathematics and Statistics. 2014, 2(1), 16-28. DOI: 10.12691/ajams-2-1-4
Pub. Date: January 13, 2013

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Paradox Algorithm in Application of a Linear Transportation Problem

by Osuji George A., Opara Jude, Nwobi Anderson C., Onyeze Vitus and Iheagwara Andrew I.

Original Research

Paradox seldom occurs in a linear transportation problem, but it is related to the classical transportation problem. For specific reasons of this problem, an increase in the quantity of goods or number of passengers (as used in this paper) to be transported may lead to a decrease in the optimal total transportation cost. Two numerical examples were used for the study. In this paper, an efficient algorithm for solving a linear programming problem was explicitly discussed, and it was concluded that paradox does not exist in the first set of data, while paradox exists in the second set of data. The Vogel’s Approximation Method (VAM) was used to obtain the initial basic feasible solution via the Statistical Software Package known as TORA. The first set of data revealed that paradox does not exist, while the second set of data showed that paradox exists. The method however gives a step by step development of the solution procedure for finding all the paradoxical pair in the second set of data.

American Journal of Applied Mathematics and Statistics. 2014, 2(1), 10-15. DOI: 10.12691/ajams-2-1-3
Pub. Date: January 12, 2014

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Characterization of Distribution by Conditional Expectation of Lower Record Values

by M. I. Khan and M. Faizan

Original Research

It is widely known that the problem of characterizing a distribution an important problem which has recently attracted the attention of many researchers. Thus various characterizations have been established in many directions. In this paper, a general form of continuous probability distribution is characterized through conditional expectation of contrast of lower record statistics, conditioned on a non-adjacent record statistics and some of its deductions are also discussed.

American Journal of Applied Mathematics and Statistics. 2014, 2(1), 7-9. DOI: 10.12691/ajams-2-1-2
Pub. Date: January 10, 2013

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Measuring the Uncertainty of Human Reasoning

by Michael Gr. Voskoglou

Original Research

Human reasoning is characterized by a degree of fuzziness and uncertainty. In the present paper we develop a fuzzy model for a better description of the reasoning process and we use the fuzzy systems’ total possibilistic uncertainty as well as the classical ’s entropy (properly modified for use in fuzzy environments) in measuring the individuals’ reasoning skills. Classroom experiments are also provided illustrating our results in practice.

American Journal of Applied Mathematics and Statistics. 2014, 2(1), 1-6. DOI: 10.12691/ajams-2-1-1
Pub. Date: January 03, 2014

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