QNT561 Week2 Probability Distributions
QNT561 Week2: Purpose of Assignment
The purpose of this assignment is to develop students’ analytical capabilities to evaluate, analyze, and apply descriptive statistics techniques to real-world datasets.
Resources: Microsoft Excel®, Case Study: MBA Schools in Asia-Pacific
Review the Case Study: MBA Schools in Asia-Pacific and the Case Study: MBA Schools in Asia-Pacific Data set.
Prepare a 1,050-word managerial report for your boss.
Use the following questions for guidelines and directions on what to include in the report:
- What 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).
- Using 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.
- What are the minimum and maximum full-time enrollments? Which schools have the minimum and maximum full-time enrollments?
- What 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?
- What are the mean, median, and modal ages? What does this mean to prospective applicants?
- What 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.
- What percentage of schools require the GMAT test?
- What percentage of schools require English tests such as Test of English as a Foreign Language (TOEFL)?
- What percentage of schools require work experience? From this percentage, does this appear to be a significant factor in gaining admissions?
- What are the mean and median starting salaries? Which schools have the minimum and maximum starting salaries? How much are these minimum and maximum salaries?
- What 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?
- How 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?
- How 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?
- Comment on the skewness for the data on starting salaries:
- Plot a histogram and determine the skewness.
- Find the skewness coefficient.
- Find the mean, median, and mode for starting salaries and compare the three measures to determine skewness.
- Finally, use Empirical Rule on the starting salaries and determine whether the salaries follow the Empirical Rule.
Format your assignment consistent with APA format.
This assignment contains a Microsoft Excel document and a Word document.
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