Tag: decision
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How to Draw a Pareto Chart?
Pareto chart, put simply, is a sorted frequency chart. It is used mainly for identifying the most frequent occurrences in a collected sample. Some business-situation questions can be answered by a Pareto chart include: — What are the most common service duration in a process? — Which aspect do our customers like best? —…
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“That’s twice the size of Texas. They may never find us.”
Wait…what’s this? You might be wondering. What does it have to do with Excel modeling? Let me explain. First of all, this is a quote from the move Cast Away. Its main character Chuck, a Fedex executive, was washed onto the shore of a remote island after his plane was disintegrated in mid-air. …