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NotesBusiness ManagementTopic 6.7
Unit 6 · Business Management Toolkit · Topic 6.7

IB Business Management — Descriptive statistics

At Higher Level, Topic 6.7 demands more sophisticated statistical analysis, including the application of standard deviation to business contexts, the interpretation of data distributions, and the use of statistical evidence to support business decisions.

Exam technique guidePractice questions

What you'll learn in Topic 6.7

  • 6.7.1 Measures of central tendency
  • 6.7.2 Measures of dispersion
  • 6.7.3 Using statistics in business decisions

Exam relevance

At Higher Level, BM includes quantitative questions and deeper strategic analysis. Paper 2 requires extended responses with financial calculations, ratio analysis, and investment appraisal.

Suggested study order: Read the notes for each sub-topic below → test yourself with flashcards → attempt practice questions → review exam technique.

Study resources — 6.7 Descriptive statistics

6.7.1

Measures of central tendency

Notes
6.7.2

Measures of dispersion

Notes
6.7.3

Using statistics in business decisions

Notes

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Topic 6.7 Descriptive statistics forms a core part of Unit 6: Business Management Toolkit in IB Business Management. Mastering these concepts will strengthen your understanding of connected topics across the syllabus and prepare you for exam questions that require analysis, evaluation, and real-world application.

Frequently asked questions

What does Topic 6.7 Descriptive statistics cover in IB Business Management?
Topic 6.7 covers descriptive statistics as part of the IB BM syllabus. Students learn key business concepts, tools, and frameworks that are assessed in Paper 1 (case study) and Paper 2 (structured questions).
How should I revise Descriptive statistics for IB Business Management exams?
Start with the micro-topic notes to build understanding, then use flashcards for key terms and formulas. Practise applying concepts to case study scenarios and review how marks are allocated in IB mark schemes.
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