hw aug 4 abep

7/31/2019 HW AUG 4 ABEP

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CHRISTIAN R. CASTILLO

ABEP 2011 (BUSINESS ECONOMICS STATISTICAL TECHNIQUES, THURSDAYS)

1. The new insights concerning Asia – Pacific business schools are:

a. 76% of schools require work experience (19 out of 25). Schools requiring workexperience provide higher starting salaries at $41,305 or 68% higher than schools not

requiring work experience ($24,583).

b. 68% of schools do not require English test (17 out of 25). Schools requiring English test

provide higher starting salaries at $45,088 or 34% higher than schools not requiring

English test ($33,624).

c. 56% of schools require GMAT (14 out of 25). Schools requiring GMAT provide higher

starting salaries at $42,593 or 39% higher versus schools not requiring GMAT ($30,545).

d. The average enrollment stands at 165 students, with Macquarie Graduate School of

Management in Sydney having only 12 and Indian Institute of Management in Calcutta

having 463.

e. The average age of students is 28.4, with Indian Institute of Management in Ahmedabad

having 22 as average (youngest) and Massey University in New Zealand having 37 as

average (oldest).

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Using percentile formula, about 90% of schools have students aged 32 years and less.

Only two schools have students averaging more than 32 years of age – Macquarie

Graduate School of Management in Sydney (34 yo) and Massey University in New

Zealand (37 yo).

About 32% of schools have student average age falling in the average 29 to 31 age

category:

f. The average students per faculty is 8.5 with University of Adelaide having 19 students

per faculty as highest, while Australian National University in Canberra having 2

students per faculty as smallest.

g. In terms of providing starting salaries, schools in Japan, Australia and Singapore provide

higher starting salaries, while schools in India, Malaysia and the Philippines provide

lower starting salaries. In terms of local tuition costs, schools in Malaysia, India and the

Philippines have the lowest local tuition fees, while schools in Japan, Thailand and

Australia have the highest local tuition fees. Based on the salary to tuition ratio, it seems

that the best return would be studying in Malaysia and Singapore:

h. The average foreign tuition is $16,581.80, or 34% higher than the average local tuition

of $12,374.92. The Jamnalal Bajaj Institute of Management Studies in Bombay charges

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the lowest at $1,000 for both foreign and local students, while the International

University of Japan charges the highest at $33,060 for both foreign and local students.

The tuition in International University of Japan is 33 times higher than in Jamnalal.

i. Correspondingly, Jamnalal produces the lowest starting salary at $7,000, while

International University of Japan produces the highest starting salary at $87,000 or 12

times higher than Jamnalal produces.

j. Around 88% of schools have foreigners (22 out of 25) with AIM-Bangkok having the

highest percentage of foreigners at 90%, followed by Australian National University in

Canberra with 80% and International University of Japan with 60%. The three schools

without foreign enrollment are all in India – Indian Institute of Management

(Ahmedabad), Indian Institute of Management (Calcutta) and Jamnalal Bajaj Institute of

Management Studies (Bombay).

2. Summary

a. Difference between local and foreign tuition costs

i. The difference between the average (mean) foreign and local tuition costs is

US$ 4,206.88. The average for foreign tuition is $16,581.80, while the average

for local tuition is $12,374.92.

1. The difference in foreign and local tuition is not significant in most

schools with 14 or 56% of schools having a tuition difference of $3100

or less:

2. The smallest tuition for both foreign and local students is $ 1000 for

Jamnalal Bajaj of India, while the largest tuition for both foreign and

local students is $ 33,060 for International University of Japan.

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3. Ten (10) or 40% of the schools does not have different rates for foreign

and local students. The largest difference in foreign and local tuition

costs is at Lahore Univ of Mgt Sciences with $15,050.

4. In terms of skewness, foreign tuition costs is skewed to the left

(skewness of negative 0.0117) exemplifying mostly high tuition costs,

while local tuition costs is skewed to the right (skewness of 0.6222)

exemplifying lower tuition costs.

b.

Difference between mean starting salaries for schools requiring and not requiring workexperience (76% of schools requiring work experience)

i. The average starting salaries for the 19 schools requiring work experience is

$41,305, or 68% higher than salaries for schools not requiring work experience.

ii. The average starting salaries for the 6 schools not requiring work experience is

$24,583.

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iii. The difference between the mean starting salaries for schools requiring and not

requiring work experience is $16,722.

c. Difference between starting salaries for schools requiring and not requiring English tests

(32% of schools requiring English tests)

i. The average starting salaries for the 8 schools requiring English tests is $45,088

or 34% higher than schools not requiring English test. The average starting

salaries for the 17 schools not requiring English tests is $33,624. The difference

between the mean starting salaries for schools requiring and not requiring

English tests is $11,464.

ii. The smallest value for starting salaries of schools not requiring English test is

$7,000. The smallest value for starting salaries of schools requiring English test is

$16,000 or 129% higher than those schools not requiring English test. In

absolute value, this is $9,000 higher.

iii. The largest value for starting salaries of schools not requiring English test is

$71,400. The largest value for starting salaries of schools requiring English test is

$87,000 or 22% higher than those schools not requiring English test. In absolute

value, this is $15,600.

3. Relationship of starting salaries to tuition

a. There is a strong linear relationship between starting salaries and tuition

i.

Correlation coefficient of 0.786 for starting salaries and local tuition

ii. Correlation coefficient of 0.667 for starting salaries and foreign tuition

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4. Numerical summaries

hw aug 4 abep

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