Subject

for Management

: Quantitative Methods

Q1. 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 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 economics, banking, marketing, behavioral
sciences, labor relations, decision making, strategic thinking, business law, and more. The data
set is in the file ASIAN.

Managerial Report
Use the methods of descriptive statistics to summarize the data. Discuss your findings.

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-Pacific business schools?
Answer:

The MEANS Procedure FROM SAS Software

Variable

Mean

Full_Time_Enrollment
Students_per_Faculty
Local_Tuition_Dollar
Foreign_Tuitiion_Dollar
Age
Percent_Foreign
Starting_Salary_Dollar

25 165.1600000 126.0000000 30.0000000 12.0000000 463.0000000

19836.22 140.8411280
25
8.4800000
7.0000000 5.0000000 2.0000000 19.0000000 25.5933333
5.0589854
25
12374.92
11513.00
.
1000.00
33060.00 60503871.83
7778.42
25
16581.80
17765.00
16000.00
1000.00
33060.00 83445411.67
9134.85
25 28.3600000 29.0000000 29.0000000 22.0000000 37.0000000 14.3233333
3.7846180
25 28.0800000 27.0000000
0
0 90.0000000 625.4308333 25.0086152
25
37292.00
41400.00
7500.00
7000.00
87000.00 550336600
23459.25

Lower
Quartile

Median

Upper
Quartile

Mode Minimum Maximum

Range Skewness

Variance

Coeff of
Kurtosis Variation

Std Dev

Variable

Std Error

Sum

Full_Time_Enrollment
Students_per_Faculty
Local_Tuition_Dollar
Foreign_Tuitiion_Dollar
Age
Percent_Foreign
Starting_Salary_Dollar

28.1682256 44.0000000 240.0000000 451.0000000 0.7566130 -0.7512740 85.2755679

4129.00
1.0117971 5.0000000 13.0000000 17.0000000 0.7621036 -0.7055065 59.6578468 212.0000000
1555.68
6146.00
17172.00
32060.00 0.6222475 0.5061404 62.8563537
309373.00
1826.97
9000.00
22500.00
32060.00 -0.0116769 -0.7126637 55.0895923
414545.00
0.7569236 25.0000000 30.0000000 15.0000000 0.1174454 -0.2663349 13.3449153 709.0000000
5.0017230 6.0000000 43.0000000 90.0000000 0.8697730 0.3313883 89.0620199 702.0000000
4691.85
16000.00
52500.00
80000.00 0.2229030 -0.9317263 62.9069346
932300.00

Summary statistics
A. Full-Time Enrollment
On an Average 165 students are enrolled in business school for Full-Time Enrollment
In Business schools 50% schools are enrolled above 126 students and remaining 50% schools are
enrolled below 126 students
In Business schools minimum 12 and maximum 463 students are enrolled
0.76 (+VE Skewed): for Full-Time Enrollment majority of Universities have small values of
students enrolled and very few universities have large values, pull the mean up making it exceed
the median

Coefficient of Variation (C.V.) is a relative measure of variation. Variation in Full-Time

Enrollment is 85.28% means More of Variation to enrolment in student for Full-Time
Enrollment.
Standard deviation=141 and mean =165 means number of Full-Time Enrollment varies
between X - S = 165 - 141 = 24 and X + S = 165 + 141 = 306.
B. Students per Faculty
Average number of student per faculty in Business school is 9.
In Business schools 50% schools have student per faculty are above 7 and remaining 50%
schools have student per faculty are below 7
In Business schools minimum 2 and maximum 19 for student per faculty
0.76 (+VE Skewed): for student per faculty majority of universities have small values and very
few universities have large values.
Coefficient of Variation (C.V.) is a relative measure of variation. Variation in student per faculty
is 59.66% means 59.66% Variation in enrolment for student per faculty
Standard deviation=5 and mean =8 means number of student per faculty varies between X - S =
8 -5=3 and X + S = 8 +3 = 11.
C. Local Tuition ($)
Average local Tuition fees ($) in Business school is $12375.
In Business schools 50% schools have local Tuition fees ($) are above $11513 and remaining
50% schools have local Tuition fees ($) are below $11513.
In Business schools minimum local Tuition fees is $1000 and maximum local Tuition fees is
$33060
0.62(+VE Skewed): For local Tuition fees ($) majority of universities have small values and very
few universities have large values.
Coefficient of Variation (C.V.) is a relative measure of variation. Variation in local Tuition fees
($) is 63% means 63% Variation in enrolment for local Tuition fees ($)
Standard deviation=7778 and mean =12375 means local Tuition fees ($) varies between X - S =
12375 -7778=4597 and X + S = 12375 +7778 = 20153.
D. Foreign Tuition ($)
Average Foreign Tuition fees ($) in Business school is $16582.
In Business schools 50% schools have Foreign Tuition fees ($) are above $17765 and remaining
50% schools have Foreign Tuition fees ($) are below $17765.

In Business schools minimum Foreign Tuition fees is $1000 and maximum Foreign Tuition fee is
$33060
-0.01(-VE Skewed): -0.01is very close to zero so we can consider as no skewed means For
Foreign Tuition fees ($) almost values are lies from both sides from mean value
Coefficient of Variation (C.V.) is a relative measure of variation. Variation in Foreign Tuition fees
($) is 55% means 55% Variation in enrolment for Foreign Tuition fees ($)
Standard deviation=9135 and mean =16582 means Foreign Tuition fees ($) varies between X - S
= 16582 -9135=7447 and X + S =16582+9135 = 25717.
E. Age
Average age of students in Business school is 28 years
In Business schools 50% schools have age of students are above 29 years and remaining 50%
schools have age of students are below 29 years
In Business schools minimum age is student is 22 and maximum age is student is 37
Coefficient of Variation (C.V.) is a relative measure of variation. Variation in age is 13% means
very less Variation to age of students
Standard deviation=4and mean =28 means Foreign Tuition fees ($) varies between X - S = 28
-4=24 and X + S =28+4= 32
F. %Foreign
Average % of Foreign in Business school is 28%
In Business schools 50% schools have % of foreign are above 27 percent and remaining 50%
schools have % of foreign are below 27 percent
In Business schools minimum % of Foreign is 0% and maximum % of Foreign is 90%
0.87(+VE Skewed): For % of foreign in majority of universities have small values and very few
universities have large values.
Coefficient of Variation (C.V.) is a relative measure of variation. Variation in % of foreign is 89%
means 89% very high Variation to% of foreign in Business school
Standard deviation=25 and mean =28 means % of foreign varies between X - S = 28 -25= 3 and
X + S =28+25 = 53.
G. Starting Salary ($)
Average Starting Salary ($) in Business school is $37292.
In Business schools 50% schools have Starting Salary ($) are above $41400 and remaining 50%
schools have Starting Salary ($) are below $41400.
In Business schools minimum Starting Salary is $7000 and maximum Starting Salary is $87000
Coefficient of Variation (C.V.) is a relative measure of variation. Variation in Starting Salary ($)
is 63% means 63% Variation in enrolment for Starting Salary ($)
Standard deviation=23459 and mean =37292 means Starting Salary ($) varies between X - S =
37292 -23459=13833 and X + S = 37292 +23459 = 60751.

H. GMAT
GMAT
No
Yes

Cumulativ
Frequ
e
ency Percent Frequency
11
44.00
11
14
56.00
25

Cumulativ
e
Percent
44.00
100.00

56% Student had taken GMAT examination for getting admission in Business school and
remaining 44% Student had taken admission without writing GMAT Examination.
I. English test
Cumulative Cumulative
English_Test Frequency Percent Frequency
Percent
No

17

68.00

17

68.00

Yes

32.00

25

100.00

Only 32% Student had taken English test for getting admission in Business school and remaining
68 % Student had taken admission without writing English test
J. Work Experience
Cumulati
ve Cumulati
Work_Experie Frequen Perce Frequen
ve
nce
cy
nt
cy Percent
No
Yes

24.00

24.00

19

76.00

25

100.00

76% student had work experience before joining business school and only 24% student enrolled
with no experience in business school

2.

Summarize the data to compare the following:

a. Any difference between local and foreign tuition costs.
Answer:

Variable

Mean Median

Mode Minimum Maximum

Local_Tuition_Dollar
25 12374.92 11513.00
.
Foreign_Tuitiion_Dollar 25 16581.80 17765.00 16000.00

1000.00
1000.00

Lower
Variance Std Dev Std Error Quartile

33060.00 60503871.83
33060.00 83445411.67

7778.42
9134.85

Variable

Upper
Quartile

Local_Tuition_Dollar
Foreign_Tuitiion_Dollar

17172.00 32060.00 0.6222475 0.5061404 62.8563537 309373.00

22500.00 32060.00 -0.0116769 -0.7126637 55.0895923 414545.00

Range Skewness

Coeff of
Kurtosis Variation

1555.68
1826.97

Sum

Based on minimum and maximum there is no difference between local and foreign tuition costs.
(Minimum 1000 and maximum 33060.
But based on average both tuition fees are different. A foreign Tuition fees is $16582 and local
Tuition fees is $12375. Foreign Tuition fees is more than local Tuition fees
Based on Coefficient of variation, 63% variation in local Tuition fees and 55% variation in
foreign Tuition fees. Variation (Dispersion) is more in local Tuition fees Tuition fees than foreign
Tuition fees
Based Independent sample T test

6146.00
9000.00

Tuition_type

Mean Std Dev Std Err Minimum Maximum

Foreign Tuitiion 25 16581.8

9134.8

1827.0

1000.0

33060.0

25 12374.9

7778.4

1555.7

1000.0

33060.0

4206.9

8483.8

2399.6

Local Tuition
Diff (1-2)

Tuition_type

Method

Mean 95% CL Mean Std Dev

95% CL Std
Dev

Foreign Tuitiion

16581.8 12811.1 20352.5

9134.8 7132.7 12708.0

Local Tuition

12374.9

9164.1 15585.7

7778.4 6073.6 10821.0

8483.8 7074.8 10598.8

Diff (1-2)

Pooled

4206.9

-617.8

9031.6

Diff (1-2)

Satterthwaite

4206.9

-621.0

9034.7

Method

Variances

Pooled

Equal

Satterthwaite Unequal

DF t Value Pr > |t|

48

1.75

0.0860

46.811

1.75

0.0861

Equality of Variances
Method

Num DF Den DF F Value Pr > F

24

Folded F

24

1.38 0.4368

First we had compare Variances of two fess based on F test. Probability is 0.4368 which is
greater than 0.05(level of significance) so we are accepting hypothesis that both samples have
same Variances
Next we had compare mean of two fees based on T test. Probability is 0.0860(Two Tailed)
which is greater than 0.05(level of significance) so we are accepting hypothesis that there is no
difference in fess for foreign Tuition and Local tuition Fess
b. Any difference between mean starting salaries for schools requiring and not requiring work
experience.
Answer:
Analysis Variable : Starting_Salary_Dollar
N
Work_Experience Obs N
No
Yes

Mean Median

6 24583.33

Mode Minimum Maximum

7500.00 7500.00

19 19 41305.26 46600.00

Lower
Variance Std Dev Std Error Quartile

7100.00

87000.00 1024325667 32005.09

7000.00

71400.00

378409415 19452.75

13066.02

7400.00

4462.77 22800.00

Analysis Variable : Starting_Salary_Dollar

N
Upper
Work_Experience Obs Quartile
No

Range Skewness

6 31000.00 79900.00

Yes

2.0410240

Coeff of
Variation

Kurtosis

Sum

4.1109511 130.1901890 147500.00

19 55000.00 64400.00 -0.2965100 -1.0578553

47.0950837 784800.00

Based on average starting salaries for schools requiring and not requiring work experience are
different. Requiring work experience average is $41453 and not requiring work experience
average is $24583
Based on Coefficient of variation, 47% variation in requiring work experience and 130%
variation in not requiring work experience. Variation (Dispersion) is more in not requiring work
experience than requiring work experience
Based on minimum and maximum there is difference in starting salaries for schools requiring
and not requiring work experience. Maximum for schools requiring experience is $71400 and
Maximum for schools not requiring experience is $87000.
Based Independent sample T test

Work_Experience

No

24583.3

32005.1

13066.0

7100.0

87000.0

Yes

19

41305.3

19452.7

4462.8

7000.0

71400.0

-16721.9

22777.8

10666.7

Diff (1-2)

Mean Std Dev Std Err Minimum Maximum

Work_Experience Method

Mean 95% CL Mean Std Dev

95% CL Std
Dev

No

24583.3

-9003.9 58170.6

32005.1 19977.8 78496.1

Yes

41305.3

31929.3 50681.2

19452.7 14698.7 28767.2

-16721.9 -38787.6

5343.7

Diff (1-2)

Pooled

Diff (1-2)

Satterthwaite -16721.9 -50230.3 16786.5

Method

Variances

Pooled

Equal

Satterthwaite Unequal

22777.8 17703.2 31951.7

DF t Value Pr > |t|

23

-1.57

0.1306

6.2112

-1.21

0.2699

Equality of Variances
Method

Num DF Den DF F Value Pr > F

5

Folded F

18

2.71 0.1081

First we had compare Variances of two samples (Work experience Yes and No) based on F test.
Probability is 0.1081 which is greater than 0.05(level of significance) so we are accepting
hypothesis that both samples have same Variances
Next we had compare mean of Starting Salary for Experienced and No Experienced based on T
test. Probability is 0.1306(Two Tailed) which is greater than 0.05(level of significance) so we
are accepting hypothesis that there is no difference in Starting Salary for Yes ( Experienced) and
No Work Experience (Unexperienced)
c. Any difference between starting salaries for schools requiring and not requiring English tests.
Answer:
Analysis Variable : Starting_Salary_Dollar
N
English_Test Obs N
No
Yes

Mean Median

Lower
Mode Minimum Maximum Variance Std Dev Std Error Quartile

17 17 33623.53 31000.00 7500.00

8

8 45087.50 44950.00

7000.00

71400.00 587395662 24236.25

5878.15

16000.00

87000.00 442115536 21026.54

7434.01 33200.00

Analysis Variable : Starting_Salary_Dollar

N
Upper
English_Test Obs Quartile
No
Yes

Range Skewness

Coeff of
Kurtosis Variation

Sum

17 55000.00 64400.00 0.2504016 -1.6474330 72.0812100 571600.00

8 50700.00 71000.00 0.8466439

2.0599793 46.6349733 360700.00

7500.00

Based on average starting salaries for schools requiring and not requiring English tests are
different. Requiring English tests average is $45088 and not requiring English tests average is
$24236
Based on Coefficient of variation, 47% variation in requiring English tests and 72% variation in
not requiring English tests. Variation (Dispersion) is more in not requiring English tests than
requiring English tests
Based on minimum and maximum there is difference in starting salaries for schools requiring
and not requiring English tests are different. Maximum for schools requiring experience is
$87000 and Maximum for schools not requiring experience is $71400.
Based Independent sample T test

English_Test

No

17

33623.5

24236.2

5878.2

7000.0

71400.0

Yes

45087.5

21026.5

7434.0

16000.0

87000.0

-11464.0

23306.2

9992.5

Diff (1-2)

English_Test Method

Mean Std Dev Std Err Minimum Maximum

Mean 95% CL Mean Std Dev

95% CL Std
Dev

No

33623.5

21162.4 46084.7

24236.2 18050.4 36885.8

Yes

45087.5

27508.9 62666.1

21026.5 13902.2 42794.7

Diff (1-2)

Pooled

-11464.0 -32134.9

9207.0

Diff (1-2)

Satterthwaite -11464.0 -31576.5

8648.6

23306.2 18113.9 32693.0

Method

Variances

Pooled

Equal

DF t Value Pr > |t|

Satterthwaite Unequal

23

-1.15

0.2631

15.789

-1.21

0.2442

Equality of Variances
Method
Folded F

Num DF Den DF F Value Pr > F

16

1.33 0.7338

First we had compare Variances of two samples (English Test Yes and No) based on F test.
Probability is 0.7338 which is greater than 0.05(level of significance) so we are accepting
hypothesis that both samples have same Variances
Next we had compare mean of Starting Salary for English Test Yes and English Test No based on
T test. Probability is 0.2631(Two Tailed) which is greater than 0.05(level of significance) so we
are accepting hypothesis that there is no difference in Starting Salary for Given English Test and
not given English Test
3.

Do starting salaries appear to be related to tuition?

Answer:

Simple Statistics
Variable

N Mean Std Dev

Local_Tuition_Dollar

25 12375

7778 309373

1000

33060

Foreign_Tuitiion_Dollar 25 16582

9135 414545

1000

33060

25 37292

23459 932300

7000

87000

Starting_Salary_Dollar

Sum Minimum Maximum

Pearson Correlation Coefficients, N = 25

Prob > |r| under H0: Rho=0
Local_Tuition_Dollar Foreign_Tuitiion_Dollar Starting_Salary_Dollar
Local_Tuition_Dollar

1.00000

0.83474
<.0001

0.78591
<.0001

Foreign_Tuitiion_Dollar

0.83474
<.0001

1.00000

0.66670
0.0003

Starting_Salary_Dollar

0.78591
<.0001

0.66670
0.0003

1.00000

Starting salaries are strongly positive correlated (0.79) with Local Tuition ($)
Starting salaries are moderately positive correlated (0.67) with Foreign Tuition ($)

4.

Present any additional graphical and numerical summaries that will be beneficial in
communicating the data to others.
Box plot for Starting Salary_Dollar

Lower
Quartile

Median

Upper
Quartile Maximum

Variable

Minimum

Students_per_Faculty
Local_Tuition_Dollar
Foreign_Tuitiion_Dollar
Age
Percent_Foreign
Starting_Salary_Dollar

2.0000000 5.0000000 7.0000000 13.0000000 19.0000000

1000.00
6146.00
11513.00
17172.00
33060.00
1000.00
9000.00
17765.00
22500.00
33060.00
22.0000000 25.0000000 29.0000000 30.0000000 37.0000000
0 6.0000000 27.0000000 43.0000000 90.0000000
7000.00
16000.00
41400.00
52500.00
87000.00

Relationship between Starting Salary and Foreign Tuitiion ($)

100,000
80,000
60,000
Starting Salary($)

f(x) = 1.8x + 6973.4

Starting Salary ($)

Linear (Starting Salary ($))

40,000
20,000
0
0

20,000

40,000

Foreign Fees($)

From above chart we can see that starting salary and foreign Tuition fees are related to each
other. In general from above chart we can see that higher the foreign Tuition fees then getting
higher salary package

GMAT Examination
56%

60%
50%

44%

40%
% of students

% of Students

30%
20%
10%
0%
No

Yes

From above chart we can see that 56% student written GMAT examination

English Test Examination

80%
70%

68%

60%
50%
% of students

% of Students

40%

32%

30%
20%
10%
0%
No

Yes

From above chart we can see that 68% student written English test examination

Work experience
76%

80%
70%
60%
50%
% of students

% of Students

40%
30%

24%

20%
10%
0%
No

Yes

From above chart we can see that 76% student had work experience