Posts by Michael Parker
Box Plot with SigmaXL
What is a Box Plot? In statistics, graphical analysis is a method to visualize the quantitative data. Graphical analysis is used to discover structure and patterns in the data. The presence of which may explain or suggest reasons for additional analysis or consideration. A complete statistical analysis includes both quantitative analysis and graphical analysis. When…
Read MorePareto Analysis with SigmaXL
Pareto Principle The Pareto principle is an observation not a law. Named after Italian economist Vilfredo Pareto, this principle states that for a variety of situations, 80% of consequences come from 20% of the causes, thus the Pareto principle is also known as the 80/20 rule. The 80/20 rule basically reminds us that the comparison of…
Read More