Pareto's Principle Is Applied to a Wide Variety of Behavior

question 125

Multiple Choice

Pareto's principle is applied to a wide variety of behavior over many systems.It is sometimes referred to as the:

• A)"20-80" Rule.
• B)"80-20" Rule.
• C)"10-90" Rule.
• D)"90-10" Rule.

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Definitions:

Intuition

The capacity to grasp concepts intuitively, without relying on deliberate thought.

Rapidly Formed

Quickly developed or put together, often with little preparation or forethought.

Representativeness Heuristic

A cognitive shortcut that involves making decisions based on how closely new information resembles existing stereotypes or prototypes.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.