Case Study: MBA Schools in Asia-Pacific
QNT/561
Case Study: MBA Schools in Asia- Pacific
An overview analysis of Asians choosing to achieve a Master of Business Administration (MBA). The expansion of students looking to receive MBA’s in Asia has brought about an inundation of candidates to Asia-Pacific Schools. This has brought about an ever-increasing number of candidates at Asia-Pacific schools. The accompanying examination will utilize insights and information recovered from the study of twenty-five schools, to help students with the positioning of the accessible schools.
Quantitative/ Qualitative Data
Variable | Quantitative | Discrete | Continuous | Qualitative |
---|---|---|---|---|
Full-Time Enrollment | ||||
Students per Faculty | ||||
Local Tuition | ||||
Foreign Tuition | ||||
Age | ||||
Percentage Foreign | ||||
Starting Salary | ||||
GMAT | ||||
English Test | ||||
Work Experience |
Mean, Median, Standard Deviation, Minimum, Maximum and Three Quartiles
Variable | Mean | Median | Std. Dev. | Min | Max | Quartile 1 | Quartile 2 | Quartile 3 |
---|---|---|---|---|---|---|---|---|
Full-Time Enrollment | 165.16 | 126 | 140.84 | 12 | 463 | 44 | 126 | 240 |
Students per Faculty | 8.48 | 7 | 5.06 | 2 | 19 | 5 | 7 | 13 |
Local Tuition | 12,375 | 11,513 | 7778.42 | 1,000 | 33,060 | 6146 | 11513 | 17172 |
Foreign Tuition | 16,582 | 17,765 | 9134.85 | 1,000 | 33,060 | 9000 | 17765 | 22500 |
Age | 28 | 29 | 3.78 | 22 | 37 | 25 | 29 | 30 |
Percentage Foreign | 28.08 | 27 | 25.01 | 0 | 90 | 6 | 27 | 43 |
Starting Salary | 37,292 | 41,400 | 23459.25 | 7,000 | 87,000 | 16000 | 41400 | 52500 |
Full-Time Enrollments
The schools with the minimum full-time enrollments are The Macquarie Graduate School of Management (Sydney) and with 12 and The University of Adelaide with 20. While the schools with the maximum full-time enrollments are The Indian Institute of Management (Calcutta) with 463 and The Indian Institute of Management (Ahmadabad) with 392. Amongst all the schools in the report there is an average of 8 students per faculty member, which is relatively low. To imminent candidates who are keen on seeking his or her MBA in any of the major global business colleges, this would imply that they will get full focus and better-customized learning background.
Average Number of Students per Faculty
The average number of students per faculty member is 9. The number can be said to be relatively low. This number is low contrasted with the other school in the informational collection. Also, this means that prospective applicants who are interested in pursuing an MBA in one of the leading international business schools will have very low acceptable chance. Smaller schools should be taken into consideration because they offer more customized learning encounters.
Median, Mean and Mode of Age
The table below, the descriptive statistics indicate that the most of people that are applying for enrollment are aged 29 years of age.
Ages: | |
---|---|
Mean: | 28.36 |
Median | 29 |
Mode | 29 |
This data is essential to planned candidates because on the off chance that they are around that age they will feel great at such organizations. By and by, for somebody who has postponed their instruction and is somewhat more seasoned than most then he or she can get a handle on to some degree put. After deliberately looking into the information there appears to seem, by all accounts, to be a little relationship amongst age and beginning compensations as it is by all accounts that the more youthful the individual the most minimal the beginning pays with a few exemptions, for example, The International University of Japan (Niigata) which beginning pay is $87,000 at age 28.
Percentage of Foreign Students
The mean level of outside understudies is 13.5%. The Indian Institute of Management (Ahmedabad), The Indian Institute of Management (Calcutta) and The Jamnalal Bajaj Institute of Management Studies (Bombay) have zero percent Foreign Students. The Indian Institute of Management (Bangalore) has one percent, remote understudies. The Asian Institute of Management (Bangkok) has the most noteworthy outside students with 90%.
GMAT Test
“The GMAT (Graduate Management Admission Test) is a three and a half-hour institutionalized exam intended to anticipate how test takers will perform scholastically in MBA (Master of Business Administration) programs” (West.net, 1997-2012). Fifty-six percent of the schools require the GMAT test.
English Test
Eight out of 25 or 32% of the schools necessitate English exams, for example, Test of English as a Foreign Language (TOEFL) to select the MBA program. Eight schools necessitate English tests, and 17 don’t. The mean beginning pays for schools requiring English tests is $69,750. The mean beginning pays for educational institutions that do not necessitate English tests is $39,250.
Schools that Require Work Experience
In reviewing the admissions requirements for all Asia-Pacific MBA programs, most schools require students to have work experience upon acceptance; 63% of schools require work experience, while 37% do not require work experience.
Given most adults have gained some amount of work experience by the average age group of the Asia-Pacific schools (24 – 37), this requirement is consistent given the mean age is also 29. This is also reasonable with a mean of the salary of $41,305 in the nineteen schools that requires work experience and $24,583 for the six schools that do not requires work experience.
Starting Salaries
The mean beginning pay is $37,292; the median beginning pay is $41,400, and the mode is $7,500. Contrasting these three estimates it is anything but problematic to decide the skewness of 1.60. The Jamnalal Bajaj Institute of Management Studies (Bombay) has the base beginning compensation of $7,000, and the International University of Japan (Niigata) has the highest beginning pay of $87,000. The skewness in salaries is 0.223. At last, utilizing the Empirical Rule on the beginning pay rates, it is resolved that the pay rates don’t take after the Empirical Rule. “The experimental lead may separate into three sections: 68% of information falls inside the main standard deviation from the mean. 95% fall inside two standard deviations. 99.7% fall into three standard deviations” (Statistics how to, 2017). In this example the standard deviation isn’t symmetrical, along these lines, the chime bend characterization has no existence.
Tuition
The mean educational cost for outside students is $16,582 while the mean educational price for local students is $12,375. As a rule, this is certifiably not a critical distinction considering that such contrast is just $4,207. In the U.S. alone the in-State educational cost and Out of State Tuition is considerably higher than that. For Example, According to UTEP (2017), the In-State educational value at University of Texas at El Paso is $6,278.50, and the Out-of-State educational cost is $15,462.45 for 21 credit hours for graduate courses, a distinction of $9,134.84.
Skewness for the Data on Starting Salaries:
Plot a histogram and determine the skewness
Find the skewness coefficient:
The skewness = 0.222903
Find the mean, median and mode for starting salaries and compare the three measure to determine skewness:
Starting Salary ($) | |
---|---|
Mean | $37292 |
Median | $41,400 |
Mode | $7500 |
Empirical Rule
Per the Empirical Rule, stating that for a normal distribution, almost all the data may fall within three standard deviation of the mean. In this data sheet, the salaries do fallow the Empirical Rule. The formula to determine this is taking the Standard deviation and multiplying by 3. The answer should be 3 times the standard deviation of your mean. Since $23,459.25 multiplied by 3 is $70.377.75.
References
Black, K. (2017). Business Statistics for Contemporary Decision Making (6th Ed.). Hoboken, NJ: John Wiley & Sons.
Case Study: MBA Schools in Asia-Pacific. (2018). Retrieved from University of Phoenix [Course Materials]:
Graduate management admission council. (2017). Retrieved from http://www.gmac.com/gmat- other-assessments/about-the-GMAT-exam.aspx
Statistics How To. (2017). Retrieved from http://statisticshowto.com/empirical-rule-2
UTEP. (2017). Retrieved from http://admin.utep.edu/Default.aspx?PageContentID=6095&tabid=74614
West.net. (1997-2012). Retrieved from http://www.west.net/~stewart/gmat/what-is-gmat-cat.htm
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