I understand that you probably do not use MiniTab, but I would like the questions and descriptive statistics to be answered. Each variable must be assessed and explanations for the statistics must be given. There is a rubric in the file
BADM 220 Minitab Project 1 Business Schools of Pacific Asia 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 degree route to corporate success (Asia, Inc. Sept. 2016). The number of applicants for MBA courses at Pacific Asia schools continues to increase about 30 percent a year. In 2016, the 74 business schools in the Pacific Asia region reported a record 170,000 applications for the 11,000 full-time MBA degrees to be awarded in 2018. A main reason for the surge in demand is that an MBA can greatly enhance earning power. Across the region, thousands of Asians show an increasing willingness to spend two years to further their business education. Courses in these schools are notoriously tough and include economics, banking, marketing, behavioral sciences, labor relations, decision making, strategic thinking, business law, and more. Asia, Inc. provided a data set which shows some of the characteristics of the leading Pacific Asia business schools. A portion of the data is show below. The complete data set can be found on D2L as an accompanying file called ASIAN.mwx. Data Sample: Business School Full-Time Enrollment Students per Faculty Local Tuition ($) Foreign Tuitiion ($) (more…) Melbourne Business School 200 5 24,420 29,600 University of New South Wales (Sydney) 228 4 19,993 32,582 Indian Institute of Management (Ahmedabad) 392 5 4,300 4,300 Chinese University of Hong Kong 90 5 11,140 11,140 International University of Japan (Niigata) 126 4 33,060 33,060 Assignment: Use methods of descriptive statistics and histograms to summarize the data. Present a summary that will be beneficial in communicating the results to others. Discuss your findings in a formal, written summary report. Specifically address the following four sets of questions: 1) Compose a full statistical summary of each numerical variable in the data set, including both a set of descriptive statistics and a proper histogram. Interpret each statistic that you choose to include. Refer to the value of each descriptive statistic as you describe it. What new insights do these descriptive statistics provide about the business schools in the sample? 2) Discuss the following comparisons using your statistical summary from Question 1: a. Is there a meaningful difference between local and foreign tuition costs? b. Is there a meaningful difference between mean starting salaries for schools requiring and not requiring work experience? c. Is there a meaningful difference between starting salaries for schools requiring and not requiring English tests? 3) Do starting salaries appear to be related to tuition? You should examine both local and foreign tuition separately. State clearly whether you agree or disagree with each of these statements: “Starting Salaries tend to increase as Local Tuition increases.” and “Starting Salaries tend to increase as Foreign Tuition increases.” Explain the statistical evidence upon which you based your conclusions. (Recommendation: Scatter Plot) 4) Present additional graphical and numerical summaries that will be beneficial in describing the data. This could include information that provides additional support for the insights and conclusions that you make in parts 1), 2), and 3) above. You should try to identify at least one additional interesting characteristic of the data and describe it in your report. For example, a variable could contain an outlier or demonstrate a specific type of skewness. Additional Instructions A)Use Minitab software to generate the descriptive statistics used in your analysis. The goal of this assignment is for you to demonstrate your understanding of descriptive statistics and histograms. The file containing the problem data is available to you on D2L. For Question 2) above, you will need to make use of the By Variables feature of the Descriptive Statistics and Histogram tools in Minitab to compute descriptive statistics and histograms for each type of school (For example, Requiring or Not Requiring Work Experience and Requiring or Not Requiring an English Test will necessitate the use of the By Variables functionality). B)Prepare a written summary report using headings and subheadings that reflect the four parts of this analysis. I expect you to use both tabular output and graphics for each of the four sets of questions. Begin with a brief description of the problem in your own words. Your report must be submitted as a single document using a cover sheet, one-inch margins, with pages numbered consecutively at the bottom (the cover sheet should not be numbered) and using consistent font sizes. You should copy-and-paste all Minitab output-- tabular and graphical--that is relevant to your analysis, from Minitab into your document. You must ensure that all tables and graphs are properly labeled (e.g. Table 1 or Figure 1), properly formatted, and use the same fonts as the written report. (The use of a word processor and a spreadsheet program to create the document is expected.) You will submit the final document in Word or PDF format and submit using D2L. Your score will also reflect the skill that is demonstrated by your use of the various presentation tools for analyzing the distribution of the data (frequency distribution table, histogram, etc.). Minitab use is not just about ‘taking what you get’ from the program, it is about using Minitab to best support your claims and analysis. C)You may assume the audience for your report will be a manager/supervisor who holds an advanced business degree but is not an expert in statistics. Do not assume that because the instructor is knowledgeable about statistics that every reader of your report will be a statistics expert. D)This assignment is worth 50 points and is expected to be done independently. (You may of course seek the assistance of the instructor.) Your comments and observations will be considered equally as important as your proper use of the statistical software. 15 points will be based on your Minitab output, 20 points on your analysis, and the remaining 15 points based on organization, presentation, and formatting. A grading rubric document is included on pages 3 and 4 below. E)Your work should be submitted in D2L. E-mailing me a file is not acceptable unless you receive written permission from the instructor. E-mailing me a file will only be acceptable on an emergency basis, e.g. D2L is not functioning and you are up against the deadline. Due Date: Sunday, September 27, by 11:59 pm Minitab Project 1 Grading Rubric Student: First Name/Last Name Project Score: XX Yellow highlighted elements indicate that this area could have been developed further. Cyan highlighted elements indicate that this area met expectations in the report. Assignment Student Learning Outcome: The student will demonstrate an understanding of the correct use of descriptive statistics and histograms using Minitab statistical software. Minitab Usage Score (15 Points Possible): XX Compute Descriptive Statistics based on Whole Sample data for each of the Variables: FT Enroll, Student/Fac Ratio, Local Tuition, Foreign Tuition, Age, % Foreign, and Starting Salary (3 points) · Must include measures of Central Tendency (CT) and Variability · Best answers will include two measures of CT and two measures of Variability for comparison. Compute Descriptive Statistics for Starting Salary by Work Experience and English Test (3 points) · Must include measures of CT and Variability · Best answers will include two measures of CT and two measures of Variability for comparison. Compare Salary and Tuition to determine if there is a positive or negative relationship (3 points) · Use a Scatterplot to determine relationship, or · Use a non-graphical method to examine the relationship. Compute Histograms for all of the Variables (3 points) · Must follow all of the standards for the creation of Histograms as taught in class Additional Graphical or Descriptive Measures in Question 4 (3 Points) · Box plots, Scatter plots, Skewness Statistics, etc. Presentation Score (15 Points Possible): XX 1) Consistent, professional report style and format – APA or MLA format. (5 points possible) 2) Use of proper English spelling, capitalization, grammar, and punctuation (5 points possible) 3) Tables and Graphs are properly formatted, labeled, and easily readable (5 points possible) Analysis Score (20 Points Possible): XX Demonstrate a basic understanding of the use and interpretation of descriptive statistics in the context of the assignment (5 points) · Define and use descriptive statistics appropriately · Associate higher central tendency with increased performance · Associate higher variability with greater differences within data range · Include and discuss multiple measures of central tendency and multiple measures of variability Support all conclusions using references to reported statistics and graphs (5 points) · Refer back to specific values of the descriptive statistics · Make comparisons between different measures of central tendency to determine the ‘best’ measure · Make comparisons between different measures of variability to determine the ‘best’ measure · Avoid making errors that misstate the values or the interpretation of the descriptive statistics · Discuss the shape of the distribution as shown by the histograms Provide correct answers and discussion to support answers to the questions: (10 points) · Summary of the variable’s descriptive statistics, including discussion of measures of CT and variation · Differences in Local and Foreign Tuition · Differences in Mean Starting Salary by Work Experience · Differences in Mean Starting Salary by English Test · Relationship between Starting Salary and Tuition · Question 4 - Additional Aspects – e.g. Box plots, Scatter plots, Skewness, et al.