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Pareto Chart: Vilfredo Federico Damaso Pareto Was An Economist Who Developed The "Pareto

Pareto charts display information to demonstrate the relative importance of problems or causes of problems. They arrange items from highest to lowest frequency or impact, visually representing the Pareto principle - that roughly 80% of problems stem from 20% of causes. Pareto charts help prioritize issues, distinguishing major problems from minor ones.

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29 views1 page

Pareto Chart: Vilfredo Federico Damaso Pareto Was An Economist Who Developed The "Pareto

Pareto charts display information to demonstrate the relative importance of problems or causes of problems. They arrange items from highest to lowest frequency or impact, visually representing the Pareto principle - that roughly 80% of problems stem from 20% of causes. Pareto charts help prioritize issues, distinguishing major problems from minor ones.

Uploaded by

jemelyn
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Pareto Chart

Vilfredo Federico Damaso Pareto was an economist who developed the “Pareto
chart” he noted that a few people, or only 20% of the people, controlled most of
80% of a nation’s wealth. The “Pareto’s Law” has been applied to many other
areas, including defects, where a few causes are responsible for most of the
problems.

A Pareto chart organizes and displays information to demonstrate the relative


importance of various problems or causes of problems. It is a vertical bar chart
with items arranged from the highest to the lowest, comparable to measurable
effects such as frequency, cost, and time.

The Pareto Principle believes that 80% of a problem is attributable to 20%nof its
causes or inputs.

Pareto charts can prioritize quality problems and separate the “Vital few” issues
from the “Trivial many.”

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