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Monday, December 3, 2018

Create a Pareto Chart

Have you ever heard of the 80 20 rule? 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 where 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 and sometimes they are called Pareto charts. To see how we can create a simple Pareto chart, click the video to learn.

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