You hired staff and expected to get higher sales of your soft drinks but you were disappointed. It is named after its inventor, Vilfredo Pareto. Fascinating, right? The method is also famous as the 80/20 rule. Or we may say that by working on only 20% of cases you can solve your 80% of problems. The Pareto analysis states that your 80% problem is caused by 20% of factors. You can decide later what to do with them. We are going to find out that culprit or culprits. But even after hiring all of that workforce, you still haven't achieved your target. Using regression analysis, we found that you need a certain number of salesmen to achieve sales targets. In predicting the required salesmen to achieve a sales target, we used Regression in Excel, in our previous example.
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