The Top MBA Schools in Asia-Pacific

Qualitative data is information on the qualities which are difficult to measure. In most case, it tries to understand human behavior using information while assuming dynamic and negotiated reality. Data is usually collected through interviews and observations and analysis is through themes and description by the informants. Quantitative data, on the contrary, try to discover facts on social phenomena and assumes the availability of a fixed and measurable reality. Data is usually collected through measurement and analysis is through numerical comparison. 

( Triola, 2015; John et.al 2006; Sharpe & Velleman, 2011; Tyrrell, 2008). 

From the table, the mean, median and standard deviation for the quantitative variables are different for each component. The table also shows the minimum and maximum element in each element. For the three quartiles, the data increases from the first to the third in all components. 

The minimum and maximum full-time enrolments are 12 and 463 from Macquarie Graduate School of Management (Sydney) and Indian Institute of Management (Calcutta) respectively. The average number of students per faculty member is 8.48 which is low compared to some business schools that have 19 students. Prospective applicants have an opportunity to enrol in MBA in institutions with below average enrolment. 

The mean, median and modal ages are 28.36, 29 and 29 respectively. To the prospective applicants, they should be aware that most of the students are 29 years old in the different business institutions with the median age being 29 years and the average age for all students is 28.36 years. Prospective students should know that they have higher chances of enrolling in one of the top institutions if they are within this range. 

The mean percentage of international students is 28.08 with four schools having 0% and 1% foreign students. Indian Institute of Management (Ahmedabad) has no international student similar to Indian Institute of Management (Calcutta) and Jamnalal Bajaj Institute of Management Studies (Bombay). Indian Institute of Management (Bangalore) has 1% foreign students. Asian Institute of Management (Bangkok) has the highest number of international students with 90% followed by Australian National University (Canberra) with 80% and International University of Japan (Niigata) with 60%. 

14 out of 25 schools require GMAT test which is equivalent to 56%. The number of schools requiring Test of English as a Foreign Language is 8 out of 25 which is32%. The total number of schools that need work experience is 19 out of 25 which is76%. Work experience appears to be a significant factor in gaining admission to the top business schools. Only Indian Institute of Management (Ahmedabad), Chinese University of Hong Kong, International University of Japan (Niigata), Indian Institute of Management (Bangalore) and Indian Institute of Management (Calcutta) do not require work experience to admit students ( Triola, 2015; John et.al 2006; Sharpe & Velleman, 2011; Tyrrell, 2008). 

The mean and median starting salaries are $37,292 and $41,400 respectively. With Jamnalal Bajaj Institute of Management Studies (Bombay) having the lowest starting salary at $7,000 while International University of Japan (Niigata) has the highest starting salary at$87,000. 

The mean tuition for foreign students is $16,581.8 while that for local tuition is $12,374.9. There appears to be a significant difference between international students' tuition and local students' tuition. From the data, the difference between the two is (16,581.8 -12,374.9) which is $4,206.88 

From the 19 schools that require work experience, their average starting salary is $41,289, similarly, the mean for institutions not in need of work experience is $24,583. From the data, a significant difference exists for the starting salary in schools that call for working experience and those that do not. From the table, the difference in the two is $16,706. 

The total number of institutions requiring English test is eight while those not requiring the test is 17. The mean beginning salary for colleges requiring English test is $45,088. Additionally, the mean starting salary for institutions that do call for English test is $33,618. In this case, there appears to be a significant difference existing between the mean salary for schools demanding English tests and those that do not. 

The starting salary for institutions that need work experience is positively skewed while those for schools that do not need any experience are negatively skewed. The starting salary for institutions that require English test is positively skewed contrary to those schools that do not require English test ( Triola, 2015; John et.al 2006; Sharpe & Velleman, 2011; Tyrrell, 2008). 

The data is negatively skewed implying business schools pay higher basic salaries to individuals requiring English test and requiring experience. The basic pay is greater than the mean for the entire data. Institutions that do not require English test or work experience pay lower basic salaries than the mean. This scenario makes the distribution positively skewed. 

Pearson coefficient of skewness SK 2 = 

Where X is the mean 

Md is the median 

S is the standard deviation 

Using the mean, median and standard deviation computed in the excel file, the Pearson coefficient can be calculated as follows; 

SK 2 = 

=-0.525336397 

From the Pearson coefficient of skewness, the distribution is negatively skewed. However, since the figure , is small and close, to zero, the skewness is minimal as values close to zero indicate that there is no skewness at all ( Triola, 2015; John et.al 2006; Sharpe & Velleman, 2011; Tyrrell, 2008). 

Empirical rule 

Using the computed mean of 37292 and t6he standard deviation of 23459.3, the one two and three standard deviations can be calculated as follows 

One standard deviation: (37292 -23459.3) to (37292 +23459.3), or 13832.7 to 60751.3 

Two standard deviation: (37292 – 2 X 23459.3) to (37292 2 X 23459.3) or – 9626.6 to 84210 

Three standard deviation: (37292 -3 X 23459.3) to (37292 +3 X 23459.3) or -33085.9 to 107669.9 

The empirical rule shows that 68% of the basic pay lies within one standard deviation, i.e., 13832.7 to 60751.3. The remaining 32% of the basic pay lies outside this range ( Triola, 2015; John et.al 2006; Sharpe & Velleman, 2011; Tyrrell, 2008). 

References 

John, J. A., Whitaker, D., Johnson, D. G., & John, J. A. (2006).  Statistical thinking in business . Boca Raton: Chapman & Hall/CRC. 

Sharpe, N. R., D., D. V., & Velleman, P. F. (2011).  Business statistics: a first course . Boston: Pearson. 

Triola, M. F., (2015).  Essentials of statistics  (5th ed.). NY, NY: Pearson 

Tyrrell, S. (2008). Intermediate Statistics for Dummies by Deborah Rumsey Intermediate Statistics for Dummies by Deborah Rumsey.  MSOR Connections,   8 (1), 34-38. doi:10.11120/msor.2008.08010034