The pursuit of a higher education degree in business is now international. A sur
ID: 1091274 • Letter: T
Question
The pursuit of a higher education degree in business is now international. A survey shows that more and more Asians choose the master of business administration (MBA) degree route to corporate suc- cess. As a result, the number of applicants for MBA courses at Asia-Pacic schools continues to increase. Across the region, thousands of Asians show an increasing willingness to temporarily shelve their careers and spend two years in pursuit of a theoretical business qualication. Courses in these schools are notoriously tough and include economics, banking, marketing, behavioral sciences, labor relations, decision making, strategic thinking, business law, and more. The associated data shows some of the characteristics of the leading Asia-Pacic business schools. The choice to attend an MBA is an expensive one, both in terms of explicit and implicit costs. Provide a managerial report which analyzes the decision to attend a leading MBA program at an Asia-Pacic business school. Would you recommend getting an MBA from a leading Asia-Pacic business school?
Explanation / Answer
1. Include a summary for each variable in the data set. Make comments and interpretations based
on maximums and minimums, as well as the appropriate means and proportions. What new insights
do these descriptive statistics provide concerning Asia-Pacic business schools?
Answers:
The Descriptive statistics of the given variable are as follows
Descriptive Statistics: Full-Time En, Students per, Local Tuitio, ...
Variable N N* Mean SE Mean StDev Minimum Q1 Median
Full-Time Enrollment 25 0 165.2 28.2 140.8 12.0 43.0 126.0
Students per Faculty 25 0 8.48 1.01 5.06 2.00 5.00 7.00
Local Tuition ($) 25 0 12375 1556 7778 1000 5223 11513
Foreign Tuitiion ($) 25 0 16582 1827 9135 1000 8750 17765
Age 25 0 28.360 0.757 3.785 22.000 25.000 29.000
%Foreign 25 0 28.08 5.00 25.01 0.00 4.75 27.00
Starting Salary ($) 25 0 37292 4692 23459 7000 14550 41400
Variable Q3 Maximum
Full-Time Enrollment 270.0 463.0
Students per Faculty 13.50 19.00
Local Tuition ($) 17264 33060
Foreign Tuitiion ($) 22650 33060
Age 31.000 37.000
%Foreign 45.00 90.00
Starting Salary ($) 53750 87000
From the descriptive statistics of each variable we see the mean, median, standard deviation, first quartile, 3rd quartile, minimum and maximum of each variable, we also analyse the data by histogram plot of each variable.
From this histogram of the variable we see that the data distribution is going to follow approximately normal distribution and the curve of the variable is positively skewed and lepto kurtic.
2. Summarize the data to compare the following:
a. Any difference between local and foreign tuition costs.
b. Any difference between mean starting salaries for schools requiring and not requiring work
experience.
c. Any difference between starting salaries for schools requiring and not requiring English tests.
Answers: a) Here the null hypothesis H0: the mean of local and foreign tuition costs against the alternative H1: the mean of local and foreign tuition costs are not equal. Since the sample size is greater than 30 therefore the test will be Z test.
H0:
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