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TOOLS AND TECHNIQUES

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Title: TOOLS AND TECHNIQUES

Essay Details:

Subject: Business

Author: Stephen H

Date: March 11, 2014

Level: University

Grade: A

Length: 4 / 933

Essay text:

He determined that a small portion of the people within the economy controlled a large portion of the economy. Likewise, one doing analysis of accidents or events may find that a large portion of the accidents are cause by a small population of causes. The "Pareto Principle" states that 80% of the problems come from 20% of the causes. The Pareto Chart analysis should be performed over a fixed time interval of performance indicator results. The Pareto Chart analysis should only be performed after the control chart analysis is complete. The time interval should be chosen depending on the existence or non-existence of statistically significant trends...

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