Rewriting (1000 Words)

05 May Rewriting (1000 Words)

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Case Study: MBA Schools in Asia-Pacific

After receiving my MBA, I was hired at Bloomberg Business working in its media division. The media division publishes reviews and rankings for business schools on an international basis; do to my analytical skills, my boss assigned me to work on an analysis for statistics collected regarding leading business schools in the Asia-Pacific. I was assigned a specific set of questions and given data pertained to the business schools, which includes twenty-six different schools, enrollment status, the number of students per teachers, tuition (foreign and local), ages, the percentage of foreign, GMAT test, required English testing, work experience, and starting salaries (University of Phoenix, 2017). The following report shows the results of my analysis of the given data and the answers to my assigned questions (University of Phoenix, 2017).

Case Study: MBA Schools in Asia-Pacific

Data

The following chart shows the type of data as being either quantitative or qualitative for each columns’ variable. The quantitative data is labeled as discrete or continuous and the qualitative data is labeled as N/A.

Variable	Type	Discrete/Continuous
Business school	Qualitative	N/A
Full-Time Enrollment	Quantitative	Discrete
Students per faculty	Quantitative	Discrete
Local Tuition	Quantitative	Continuous
Foreign tuition	Quantitative	Continuous
Age	Quantitative	Discrete
% foreign	Quantitative	Continuous
GMAT	Qualitative	N/A
English test	Qualitative	N/A
Work experience	Qualitative	N/A
Starting salary	Quantitative	Continuous

Using Excel®, I found the mean, median, standard deviation, minimum, maximum, and the three quartiles for each of the quantitative variables, which are shown in the following table:

Results	Full-Time Enrollment	Students per Faculty	Local Tuition ($)	Foreign Tuition ($)	Starting salary ($)	Age	%Foreign
Mean	165.16	8.48	12374.92	16581.8	37292	28.36	28.08
Median	126	7	11513	17765	41400	29	27
Standard Deviation	140.841	5.059	7778.423	9134.846	23459.254	3.785	25.009
Minimum	12	2	1000	1000	7000	22	0
Maximum	463	19	33060	33060	87000	37	90
Quartile 1	44	5	6146	9000	16000	25	6
Quartile 2	126	7	11513	17765	41400	29	27
Quartile 3	240	13	17172	22500	52500	30	43

The results show that the average full-time enrollment is 165 and the median is 126, which shows that some schools have a high full-time enrollment and others have a very low full-time enrollment. The average students per faculty is 8.48 and the median is 7; the variance is predictable because of the enrollment rates. Regarding local and foreign tuition, there is a significant difference between the minimum and maximum, which shows that many of the schools vary in charging rates. Concerning starting salaries, the mean is $37392 and the median is $41400, which tells the data is negatively skewed; the graduates from some of the schools have significantly lower starting salaries compared to other schools’ graduates. Macquarie Graduate School of Management (Sydney) has the minimum full-time enrollment of 12 students and Indian Institute of Management (Calcutta) had the maximum of 463 students.

The average student per faculty is 8.48, which is low. What this means is that potential students have a small chance of acceptance into the schools, but it also means the students receive a great amount of individual attention from the faculty. The mean age of the students is 28.36, and the median and modal values are 29. Potential applicants can expect to attend school with others in that age range.

Percentages

The mean percentage of foreign students is 28.08. There is a total of four schools that have 0% and 1% of foreign students. The universities are:

1. Indian Institute of Management (Ahmedabad) 0%

2. Indian Institute of Management (Bangalore) 1%

3. Indian Institute of Management (Calcutta) 0%

4. Jamnalal Bajaj Institute of Management Studies (Bombay) 0%

The schools with the highest percentage of foreign students are:

1. Asian Institute of Management (Bangkok) 90%

2. Australian National University (Canberra) 80%

3. International University of Japan (Niigata) 60%

The number of schools that require the GMAT test is 14; there are a total of 25 schools listed in the data set. The percentage of schools that require the GMAT test is 56% to get the result for that percentage, I used the following calculation:

14/25 * 100% = 56%

The number of schools that require English test is 8; using the same given data set, there are 25 schools listed, which gives a total of 32% of schools that require English test:

8/25 * 100% = 32%

The number of schools that require work experience is 19, the given data, again, is a total of 25 schools, which calculates to 76% of the schools requiring work experience:

19/25 * 100% = 76%

Salaries

The mean salary is $37392 and the median is $41400; the minimum starting salary is $7000, which is received by graduates from Jamnalal Bajaj Institute graduates. The maximum starting salary is $87,000 received by alumni from the International University of Japan.

Tuition

The mean tuition for foreign students is $16,581.80 and for local students the mean tuition is $12,374.92, the difference between the means is $4,206.88; this is a significant difference. Using Excel, a t-test was conducted to determine if the difference was significant; the following chart shows the results of the test:

Work Experience

19 of the 25 listed schools in the given data require work experience, which means 6 of the schools do not require work experience. The mean starting salary for the schools that do not require work experience is $24,583 and the mean starting salary for the schools that require work experience is $41,305.

English Tests

8 of the 25 listed schools require English test, which means 17 of the schools do not require English test. The mean starting salary for the ones that do not want test is $33,624 and for the schools that want tests the mean is $45,088.

Skew

Containing a value of 0.222903, the data is skewed positively. The mean, median and mode are 37292, 41400, and 7500. Due to the data being spread out so widely, it shows that the information is poorly skewed.

Empirical Rule

The empirical rule states, approximately 68% of the data values are within one standard deviation of the mean, 95% are within two standard deviations, and 99.7% are within three standard deviations (Black, 2017). The total number of salaries in the gives data is 25, the mean is 37292.0, and the standard deviation is 23459.3. With this information, I calculated that the Empirical Rule at 68% falls between 13832.7 and 60751.3, at 95% it falls between -9626.6 and 84210.6, and at 97.7% it falls between -33085.9 and 107669.9. The data does not follow the empirical rule exactly, but to some extent it does follow (approximate 60% values falling within one standard deviation of mean, and 96% salary range falls within 2 standard deviation)

Conclusion

The information provided in this report completely answered all the questions given to me by Dr. C., my boss. The report covered all the statistical data proved regarding MBA Schools in Asia-Pacific. Everything from enrollment to salary stats was discussed throughout the paper including all required calculations.

References

Black, K. (2017). Business Statistics: For Contemporary Decision Making, (9th Edition).

Hoboken, NJ: Wiley.

University of Phoenix. (2017). Case Study: MBA Schools in Asia-Pacific Data Set [Multimedia]. Retrieved from University of Phoenix, QNT/561– Applied Business Research & statistics

website.

University of Phoenix. (2017). Case Study: MBA Schools in Asia-Pacific [Multimedia].

Retrieved from University of Phoenix, QNT/561 – Applied Business Research & statistics website.