A Pareto Chart Is Useful Because It Is Based on the Theory

question 64

Short Answer

A Pareto chart is useful because it is based on the theory that 80% of the observations are accounted for by 20% of the ________.

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Definitions:

Self-Concept Clarity

The extent to which a person's self-beliefs are clearly and confidently defined, internally consistent, and stable.

Feedback Sensitivity

The degree to which individuals react to feedback, criticism, or praise from others.

Self-Verification

A psychological theory suggesting individuals seek to confirm their self-concept, preferring feedback that aligns with their existing beliefs about themselves.

Effort Justification

The phenomenon whereby people reduce dissonance by convincing themselves that what they suffered for is actually quite valuable.