NationMaster - Encyclopedia: Pareto chart

A Pareto Chart is a special type of Histogram where the values being plotted are arranged in descending order. Typically the left axis is frequency, but can also be cost, or other unit of measure. The goal (and usage) of a Pareto Chart is to highlight the biggest factor for a set of factors. In a quality analysis this can be the largest defect, or can be used to represent the top half of problems. In statistics, a histogram is a graphical display of tabulated frequencies. ...

Results from FactBites:

Pareto principle - Wikipedia, the free encyclopedia (555 words)
	The Pareto principle (also known as the 80-20 rule, the law of the vital few and the principle of factor sparsity) states that for many phenomena, 80% of the consequences stem from 20% of the causes.
	Pareto developed both concepts in the context of the distribution of income and wealth among the population.
	The Pareto principle has many applications in quality control, and is the basis for the pareto chart, one of the key tools used in total quality control and six sigma.

More results at FactBites »

COMMENTARY

Share your thoughts, questions and commentary here

Want to know more?
Search encyclopedia, statistics and forums:

Feeds | Contact
The Wikipedia article included on this page is licensed under the GFDL.
Images may be subject to relevant owners' copyright.
All other elements are (c) copyright NationMaster.com 2003-5. All Rights Reserved.
Usage implies agreement with terms.