IB Business Management MCQ QuizIB_Business_Management_Descriptiv

Identify the term given to a visual information tool that combines graphs, texts, and images to engage readers without overwhelming them.

• Bar chart

• Data analytics

• Infographic

• Pie chart

Identify the term that is most commonly associated with the ‘average’ value in a numerical data set.

• Mean

• Median

• Metric

• Mode

Identify the difference between pie charts and bar charts.

• Pie charts appear as rectangular bars, whereas bar charts are circular

• Pie charts can show data against time, bar charts cannot

• Pie charts represent a value as part of a whole, bar charts do not

• Pie charts use the size of pieces to represent a value, bar charts do not

Identify the statistical term commonly associated with the data image shown below: 2, 2, 2, 2, 3, 4, 4, 4, 5, 6, 7, 9, 9, 10, 10

• Average

• Mean

• Median

• Mode

Identify the information gathered by calculating the standard deviation.

• Difference between the greatest and smallest data points

• Distance of a data value from the mean

• Most frequent data point that arises in a data set

• Sum of all items divided by the number of items

Using the data below, calculate the mean sales over the six-month period. Month January February March April May June Sales ($) 150,000 175,000 160,000 170,000 150,000 140,000

• $157,500

• $160,000

• $170,000

• $172,500

Using the data below, calculate the population standard deviation sales during the six-month period. Month January February March April May June Sales ($) 300,000 350,000 310,000 340,000 300,000 280,000

• $17,701

• $24,267

• $31,333

• $70,000

Identify the limitation(s) of communicating via an infographic. i. Having too much information can create data overload ii. Potential to go viral iii. They are eye catching iv. They are often costly and time consuming to prepare

• i + ii

• i + iii

• ii + iii

• i + iv

Identify the missing labels from the box plot diagram below: (a) (b) 1 2 3 4 5 6 7 8 9 10

• (a) interquartile range, (b) median

• (a) lower quartile, (b) upper quartile

• (a) median, (b) upper quartile

• (a) median, (b) interquartile range

Using the data below, calculate the market share of the top 3 firms in the market.

• 62%

• $124 million

• 90%

• $180 million