Have you ever heard of the 80 20 rule? You may have come across this in six sigma literature or when some economically related article is highlighting data. It's based on the idea of the Pareto principle which was named after an Italian economist. Basically it proposed that a small percentage of inputs are responsible for a large percentage of outputs. Like a small percentage of a population held the wealth or wealth creating aspects of the larger population. Often you may see charts to try to visualize this to help with analysis and sometimes they are called Pareto charts or diagrams. To see how we can create a simple Pareto chart, click the video to learn.
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Please watch: "Convert Table in a PDF File to Excel"
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