Question

Use the methods of descriptive statistics to summarize the data in Table 3.16. 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?
2. Summarize the data to compare the following:
a. Any difference between local and foreign tuition costs.
b. Any difference between mean starting salaries for schools requiring and not
requiring work experience.
c. Any difference between starting salaries for schools requiring and not requiring
English tests.
3. Do starting salaries appear to be related to tuition?
4. Present any additional graphical and numerical summaries that will be beneficial in
communicating the data in Table 3.16 to others.
Appendix Descriptive Statistics and Box

Answer 1

1.

To obtain descriptive statistics of data shown above, go to Data and then click on Data Analysis. The dialog box will appear. Enter B1:H26 in Input Range box. Select Grouped by: Columns, tick on Labels in first row and choose cell A28 in Output Range box. The screenshot is shown below.

Click Ok to get descriptive statistics for all variables shown below.

2.

a. To make scatter plot of the local and foreign tuition costs data in Excel,

1. Enter the given data in Excel.

2. Select the data for local and foreign tuition costs and go to Insert in the menu bar. Click on option Charts and select XY (Scatter) chart.

3. Right click on the chart shown and select the axes title, axes, chart title and trend line (linear) from chart elements and label them as shown in the below scatter plot.

The output for the scatter plot of local and foreign tuition costs is shown below,

From the data it can conclude that foreign tuition costs are bit higher than local costs.

b. To make scatter plot of the starting salaries and No work experience data in Excel,

1. Enter the given data in Excel.

2. Select the data for starting salaries and No work experience and go to Insert in the menu bar. Click on option Charts and select XY (Scatter) chart.

3. Right click on the chart shown and select the axes title, axes, chart title and trend line (linear) from chart elements and label them as shown in the below scatter plot.

The output for the scatter plot of starting salaries and No work experience is shown below,

From the plot it can conclude that People with no work experience are mostly getting salary in the range of 7000.

c. To make scatter plot of the starting salaries and No English test data in Excel,

1. Enter the given data in Excel.

2. Select the data for starting salaries and No English test and go to insert in the menu bar. Click on option Charts and select XY (Scatter) chart.

3. Right click on the chart shown and select the axes title, axes, chart title and trend line (linear) from chart elements and label them as shown in the below scatter plot.

The output for the scatter plot of starting salaries and No English test is shown below,

From the plot it can conclude that People with no English test are mostly getting salary below the range of 75000.

3.

No, the starting salaries are not really linked with tuitions because from the data it can be seen that those people who studied by foreign tuition are getting less salary than those who studied in local and vice-versa.

4.

It is easy to show data in graphical manner but if researcher will take only two variables on one time then the graph will look clearer. Otherwise graphical representation of data will be not clear with all variables at one time.