The Pareto Principle - The 20/80 Rule
The Pareto Principle, also known as the 80/20 rule, states that 20% of causes often produce approximately 80% of the results, while the remaining causes are responsible for the rest. Discovered by the Italian economist Vilfredo Pareto, the principle has become a valuable rule of thumb that helps our minds understand all sorts of complex distributions, focus on what matters, and set priorities.
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(Updated on October 27, 2022)
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SPROUTS TEAM
Script: Ludovico Saint Amour di Chanaz and Jonas Koblin
Illustrations: Pascal Gaggelli www.instagram.com/pascal.draws/
Production: Selina Bador
Voice: Christian "Beppo" Peters
Coloring: Nalin
Sound Design: Miguel Ojeda
Editing: Peera Lertsukittipongsa
Translation: Gunnar Selm
MUSIC
A Toy's Day Out - Shuan Frearson
DEAL WITH THESE TOP VIDEOS, GAMES, AND RESOURCES:
Read how the Pareto Principle works with a Gaussian normal distribution
https://www.sciencedirect.com/science...
Explore a paper on the problems of the Pareto Principle
https://papers.ssrn.com/sol3/papers.c...
Read how the principle is used in hospitals as a quality improvement tool
https://www.ncbi.nlm.nih.gov/pmc/arti...
SOURCES
Pareto Principle - Wikipedia Pareto Distribution
https://en.wikipedia.org/wiki/Paretop...
Wikipedia Vilfredo Pareto - Wikipedia
https://en.wikipedia.org/wiki/Vilfred...
Alkiayat M. (2021). A Practical Guide to Creating a Pareto Chart as a Quality Improvement Tool. Global journal on quality and safety in healthcare 4(2) 83-84.
https://www.ncbi.nlm.nih.gov/pmc/arti...
Mongin P. (2016). Spurious Unanimity and The Pareto Principle. Economics and Philosophy 32(3) 511-532.
https://www.cambridge.org/core/journa...
Classroom Exercise
In this activity, students will learn about the Pareto Principle.
Ask the class if they know the Pareto Principle and have them explain it in their own words.
Show the Sprouts video about the Pareto Principle.
Ask students if they can identify situations in school or in their own lives where they have applied or noticed the Pareto Principle.
Ask the class how they would use the principle to their advantage.
Teach the class that by memorizing only 20% of the lesson's key principles, they can derive the rest with 80% confidence and thus pass tests.
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