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Pareto principle

If you open the newspaper, you see headlines like "Most ..." every day. And then more accurate numbers follow in the article.

 


Explanation

It deals almost always with 80% or 20%. That's called 8 out of 10 or 1 out of 5. But it's all the same nonsense, because

     and     

Why are we so often deceived with these figures? Well, because they are always correct. Moreover, they do not bother anyone, because you belong to the large majority, or the not so small minority. And that feels good. This is the famous 80 - 20 rule. You don't have to do any research for that.

 


Additional information

In 1896 the Italian economist Vilfredo Pareto described this principle.

 


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