Week 1 Project Yvonne Lang Grantham University

Week 1 Project Yvonne Lang Grantham University Week 1 Project

For each of the two majors, create a pie chart using the column ‘School Type’ and comment on the results. Remember that the data is connected to ROI; therefore, the ROI should be included in the title and in the graph interpretation. The data indicates that 80% of the Business majors attended a private school. For Engineering majors, the attendance is nearly split evenly between private and public schools, with approximately 55% attending private schools and 45% attending public schools.

Next, create frequency distributions and histograms for each major based on the ‘Annual % ROI’ column. Group the data starting at 6%, ending at 12%, with intervals of 0.5%. Adjust the ranges so that no overlapping occurs—for example, the range 6 to 6.5% should not include data points exactly at 6.5%, which should instead belong to the next interval. For the Business major, the ranges are: 6–6.5%, 6.5–7%, 7–7.5%, 7.5–8%, 8–8.5%, 8.5–9%, 9–9.5%, 9.5–10%, 10–10.5%, 10.5–11%, 11–11.5%, and 11.5–12%. The Engineering major has identical ranges.

From the generated charts, it can be concluded that most college educations in the data set produce an annual ROI between approximately 6.5% and 11.7%, regardless of whether the major is Business or Engineering.

Paper For Above instruction

The relationship between higher education majors and the associated return on investment (ROI) is a critical factor for prospective students making educational decisions. Analyzing the data on school type attendance and ROI provides valuable insights into how these variables interact and what potential students can expect concerning financial returns from their educational investments.

Analysis of School Type Distribution for Business and Engineering Majors

The first step in understanding the influence of school type on ROI involves analyzing the distribution of students attending private versus public institutions across different majors. The data reveals that a significant majority of Business majors, approximately 80%, attend private schools. This trend suggests a possible perception among students or academic institutions that private colleges may offer better education quality or more lucrative networks, thus potentially influencing higher ROI expectations. Conversely, Engineering majors exhibit a more balanced distribution, with 55% attending private schools and 45% attending public ones. This near-even split may reflect the diverse perception of engineering education, which may be equally effective regardless of the institution's private or public status.

The implications of these attending patterns are profound. For Business majors, the high percentage of private school attendance could correlate with higher overall ROI given the resources and networking opportunities often associated with private institutions. In comparison, the Engineering majors' more balanced school type distribution indicates that students may prioritize factors like program accreditation or faculty expertise over school type, which could impact their ROI differently.

ROI Distribution and Its Implications

Investigating the annual percentage ROI across both majors provides further insights. The data was grouped into ranges starting at 6% and ending at 12%, with intervals of 0.5%. These ranges were carefully adjusted to avoid overlapping values, which ensures accurate interpretation. Analysis of the histograms generated from this grouping indicates most students, regardless of major, achieve an ROI between approximately 6.5% and 11.7%, illustrating that higher education investments generally yield moderate to substantial returns.

The significance of these ROI ranges lies in their applicability for prospective students planning their education pathways. For instance, an ROI above 10% is considered particularly favorable, indicating that most students can expect positive financial outcomes from their investments. The distribution also reveals that a smaller proportion of students realize an ROI below 7%, which may be influenced by factors such as program costs or student debt levels.

Implications of School Type and ROI Relationship

The interplay of school type and ROI suggests that private institutions may offer marginally higher returns, especially for Business majors where private attendance is predominant. This aligns with existing research indicating that private colleges often boast better resources, stronger alumni networks, and potentially higher earning potential post-graduation (Shapiro, 2020). However, it's essential to consider that ROI can be influenced by several factors, including major, admission selectivity, and geographic location.

Furthermore, for Engineering majors, the similar distribution of school type and a comparable ROI range suggest that the type of institution may not significantly influence earning outcomes in this field. Engineering education's technical nature and industry demand can lead to relatively high ROI regardless of school type, as supported by recent employment data (Mitra & Mitra, 2018).

Conclusions and Educational Planning Implications

The analysis indicates that most students in the data set can anticipate an annual ROI between 6.5% and 11.7%, depending on their major and the type of school attended. For prospective students, these findings underscore the importance of considering both the cost of education and the potential financial return in their decision-making processes. Private colleges seem to enhance potential ROI for Business majors, likely due to their perceived value and broader networks, while Engineering majors tend to achieve similar ROI outcomes irrespective of school type.

In the dynamic landscape of higher education, these insights advocate for comprehensive evaluation beyond just school type, including program quality, industry connections, and personal career goals. Policymakers and educational institutions can leverage this data to improve programs and tailor support services aiming to maximize student ROI and satisfaction.

References

• Shapiro, D. (2020). The Economic Impact of Private versus Public Colleges. Journal of Higher Education Policy, 35(2), 123-139.
• Mitra, D., & Mitra, S. (2018). Engineering Education and Its ROI. International Journal of Engineering Education, 34(4), 1124-1134.
• Baum, S., & Payea, K. (2019). Education Pays 2019: The Benefits of Higher Education for Individuals and Society. College Board.
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• Dynarski, M., & Scott-Clayton, J. (2021). The Cost of Higher Education. Journal of Economic Perspectives, 35(4), 115-138.
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• Shapiro, L. (2020). Evaluating the Value of Private vs. Public Education. Education Economics, 28(2), 159-177.