The Pareto principle (also known as the 80/20 rule, the law of the vital few, or the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes.
|The Pareto principle is best thought of as a rule of thumb, not a law of nature. The biggest takeaway the Pareto principle provides is the idea that m
|The purpose of a Pareto diagram is to separate the significant aspects of a problem from the trivial ones. By graphically separating the aspects of a
|For anyone new to the
|Pareto distribution is a skewed, heavy-tailed distribution that is sometimes used to model that distribution of incomes. The basis of the distribution
|Pareto Analysis is a statistical technique in decision-making used for the selection of a limited number of tasks that produce significant overall eff
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