Quantitative Methods Case Study

Case Title:

Priya’s Probability of Getting into a B-School

Abstract:
This case study is written for understanding the conditional probability concept covering primarily the Bayes Theorem. This case study, written from generalised experiences, revolves around a student seeking admission into one of the top-tier, ranked business schools in the country. Fortunately for Priya (the student seeking MBA admission) the business school rankings are available for the last few years including the current year. Unfortunately, the business school rankings were done by different agencies and therefore different business schools were ranked differently by different agencies. Priya tries to analyse these rankings to get admission in any one of them. Students can be asked to evaluate the chances of Priya getting admission into one of the business schools, using the concept of probability and Bayes Theorem.

Pedagogical Objectives:

• To understnad the concept of Conditional Probability in the B-Schools selection criteria.
• To understand the concept of Bayes’ theorem and discuss on the scope of business applications.

Keywords : Quantitative Methods; Decision Science; Analysis; Probability; Statistics; Decision Dilemma; B-School; MBA Course Case Mapping; Business Statistics; Quantitative Methods; Course Case Mapping