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This is an example of the Pareto Principle:

If 20% of the design flaws in a car are leading to 80% of the crashes, you can identify and fix those flaws. Similarly, if 20% of your customers are driving 80% of your sales, you may want to focus on those customers and reward them for their loyalty.

True
False

Sagot :

GinnyAnsweridn

Final answer:

The Pareto Principle, or the 80/20 rule, highlights how focusing on key areas can lead to significant impacts in various scenarios.


Explanation:

The Pareto Principle, also known as the 80/20 rule, states that roughly 80% of effects come from 20% of causes. This principle can be applied in various contexts, such as identifying design flaws leading to crashes in a car or focusing on loyal customers for increased sales.

For example, if 20% of the design flaws in a car result in 80% of the crashes, fixing those specific flaws can significantly reduce accident rates. Similarly, concentrating efforts on the 20% of customers driving 80% of sales can boost overall revenue and loyalty.


Learn more about Pareto Principle here:

https://brainly.com/question/30577401


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