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Archive | January, 2016

Pareto Analysis with JMP

Pareto Analysis with JMP

What is the Pareto Principle? The Pareto principle is an observation not a law.  Named after Italian economist Vilfredo Pareto, this principle states that for a variety of situations, 80% of consequences come from 20% of the causes, thus the Pareto principle is also known as the 80/20 rule. The 80/20 rule basically reminds us that [...]
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