The pursuit of a higher education degree in business is now international. A survey shows that more and more Asians choose the MBA route to corporate success. As a result, the number of applicants for MBA courses at Asia-Pacific schools continues to rise. The "Asian" dataset in Chapter 3 shows some of the characteristics of the leading Asia-Pacific business schools.
Based on your analysis of the data, write a managerial report addressing the following questions. Each question is worth 18 points.
1. Write at least a paragraph describing the dataset. Identify the elements and variables, as well as the sample and population of interest. Identify the scale for each variable. Does the data represent time-series or cross-sectional data? Is it an experimental or observational study?
2. Construct a frequency distribution for the variable "Local Tuition" which includes frequency, relative frequency, and percent frequency. Represent the frequency distribution graphically using a bar graph or pie chart. Categories and percentages should be clearly labeled. You are responsible for determining the number of classes, class limits, and width of each class. What are your conclusions about tuition rates based on the distribution?
3. Compute the mean, median, standard deviation, coefficient of variation and 60th percentile for Full-Time Enrollment, Students per Faculty, and Local Tuition. Which variable contains the most variation? What do these descriptive statistics tell us about the data?
4. Compute the covariance and correlation coefficient for the relationship between Full-Time Enrollment and Local Tuition, and Students per Faculty and Local Tuition. What does the correlation coefficient tell us about the relations between these two sets of variables? Which set of variables has the stronger relation? Depict the relationship between Full-Time Enrollment and Local Tuition graphically using a scatterplot.
5. Assume that the variable "Age" is normally distributed. What is the probability that a randomly selected institution would have an average student age over 32? What is the probability that a randomly selected institution would have an average student age between 25 and 35?
Case studies must be typed using 12-point Times New Roman font with 1-inch margins all around. No cover sheet is necessary. Place your PeopleSoft ID in the header at the top of each page; do not include your name on the case study. Case studies should not
exceed 5 pages in length. This includes all output, any applicable charts, graphs, and/or tables, and your explanation/discussion of the results.
The bulk of your grade will be based on your ability to perform the requested analyses and provide an accurate interpretation and meaningful description of the results. Spelling, grammar, and syntax are also part of the overall grade, as poor writing can make it difficult to evaluate your responses.
This is a written, statistical report, not simply a collection of different types of Excel output. It is not necessary to include the formulas you used or a copy of the dataset. When answering the questions above, make sure to include any relevant statistics and/or the results of your calculations. Like any other written report, you will want to start with an introductory paragraph or problem statement (DO NOT copy the introduction from this case study), and finish with a conclusion that summarizes the information presented. Your responses should be written in complete paragraphs; bulleted lists are not appropriate.
When answering the questions, make sure to double-check your calculations. It is also important to fully address the question being asked. Be sure to include your results as well as a detailed explanation/interpretation of the information. Statistical analysis includes not just the ability to obtain the correct results, but also the ability to describe and interpret what the results mean. Instead of simply saying, "Variable X has more variation." use your statistics to support your conclusions, "Variable X has more variation because..."."