Question Details

The pursuit of a higher education degree in business is now international. A survey shows more and more Asians choose the master of business administration (MBA) degree route to corporate success. As a result, the number of applicants for MBA courses at Asia-Pacific 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 qualification. Courses in these schools are notoriously tough and include statistics, economics, banking, marketing, behavioral sciences, labor relations, decision making, strategic thinking, business law, and more. 

After your MBA, you get a job at Bloomberg in its media division, Bloomberg Business. Your division publishes reviews and rankings for business schools in the US and internationally. Because of your strong analytical education, your boss assigns you to work on preparing an analysis for data gathered for leading business schools in the Asia-Pacific. The data set in the Excel^® file shows some of the characteristics of the leading Asia-Pacific business schools. 

The purpose of this assignment is to develop students' analytical capabilities to evaluate, analyze, and apply descriptive statistics techniques to real-world datasets.

Review the Case Study: MBA Schools in Asia-Pacific and the Case Study: MBA Schools in Asia-Pacific data set.

Prepare a 1,100-word managerial report for your boss.

Use the following questions for guidelines and directions on what to include in the report:

1What is the type of data (Quantitative or Qualitative) for each of the columns (variables) in the dataset? If quantitative, is the data discrete or continuous? Neatly summarize your response in a table for all the columns (variables).

2Using Excel^®, find the mean, median, standard deviation, minimum, maximum, and the three quartiles for each of the quantitative variables identified in part 1 above. Neatly summarize in a table on this document. Comment on what you observe.

3What are the minimum and maximum full-time enrollments? Which schools have the minimum and maximum full-time enrollments?

4What is the average number of students per faculty member? Is this low or high? What does this mean to prospective applicants who are interested in pursuing an MBA in one of the leading international business schools?

5What are the mean, median, and modal ages? What does this mean to prospective applicants?

6What is the mean percentage of foreign students? How many and which schools have 1% and 0% foreign students? Which schools have highest percentage of foreign students? Please state these percentages.

7What percentage of schools require the GMAT test?

8What percentage of schools require English tests such as Test of English as a Foreign Language (TOEFL)?

9What percentage of schools require work experience? From this percentage, does this appear to be a significant factor in gaining admissions?

10What are the mean and median starting salaries? Which schools have the minimum and maximum starting salaries? How much are these minimum and maximum salaries?

11What are the mean tuition for foreign students and for local students? Does there appear to be a significant difference? What is the difference between the two means?

12How many schools require work experience and how many of them don't? What is the mean starting salary for schools requiring work experience? What is the mean starting salary for schools requiring no work experience?

13How many schools require English tests and how many don't? What is the mean starting salary for schools requiring English tests? What is the mean starting salary for schools requiring no English tests?

14Comment on the skewness for the data on starting salaries:

aPlot a histogram and determine the skewness.

bFind the skewness coefficient.

cFind the mean, median, and mode for starting salaries and compare the three measures to determine skewness.

15Finally, use Empirical Rule on the starting salaries and determine whether the salaries follow the Empirical Rule.