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IB Business Management HL 6.1.7 Descriptive Statistics Question Bank

Practise IB Business Management HL 6.1.7 by calculating means, identifying modes, and interpreting descriptive statistics in business data.

Syllabus
First assessment 2024
Course
Business management HL
Level
HL

Exam points

  • Calculate a mean by summing business values and dividing by observations, reporting suitable units.
  • Identify the mode from production data and interpret what the repeated value shows.

6.1.7—Descriptive statistics question 1

[Maximum number: 2]

Fru-Yo (FY)

Figure for Question 6.1.7—Descriptive statistics question 1 — IB Business Management HL

Fru-Yo (FY) produces premium-priced yoghurts. FY has strong brand loyalty and relies only on word-of mouth promotion. FYs target market is consumers who may have health problems.

FY created two new zero-sugar fruit yoghurts. FY did no market research into the new yoghurts but is confident that FYs brand loyalty will ensure success. The market constantly changes because competitors regularly introduce new healthy yoghurts.

Table 2 shows forecasted financial information for the two new zero-sugar fruit yoghurts, Yoghurt A and Yoghurt B.

Table 2: Forecasted financial information for FY's new zero-sugar fruit yoghurts

Table 2: Forecasted financial information for FY's new zero-sugar fruit yoghurts

Using Table 2:

calculate the mean value of Yoghurt A's forecasted returns once on market (years 1-4) (show all your working).

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