Author: Eelco de Groot
Date: 20:52:13 11/11/99
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On November 11, 1999 at 22:22:47, Tina Long wrote: >On November 11, 1999 at 21:44:25, Eelco de Groot wrote: > >> >>Couldn't find any fault with your reasoning, Tina. But what exactly is a "pareto >>principal"? In normal newspeak? Show off that you are! Ok, I guess I had that >>one coming. >> >>Eelco > >I woke up at 3:00am thinking "but I didn't explain Pareto". >Then I went back to sleep. > >The Pareto Principal is that 80% of the task takes 20% of the effort, the last >20% of the task takes another 80% of effort. > >We Econometricians (Statistical Economists) use it to justify putting in little >effort on tasks. (Ask me to graph the next 10 years interest rates & I'll give >you a +or- 10% graph in 5 minutes, ask me to get it +or- 2% & get ready to >wait). > >eg: writing a good chess program: Maybe after 100 hours planning & programming >you have a working reasonable program. It takes a further 400 hours to get rid >of bugs, perfect the gui, get it just right. > > >eg: You look at a chess position. In 1 minute, in your mind, you know the best >three moves & their likely reply, in 10 minutes the worth of your concentration >has come up with only marginally better analysis. > >eg: Rebel knowledge, the first 100 is Rebel default contaning ALL the really >important stuff, go to 200 pick up some worthwhile extra evaluation, go to 300 >helps a little bit...... going from 400 to 500 may (& I'm not Ed, & I'm >certainly not denigrating/insulting Ed) introduce very little extra "knowledge". > >hi guys We understand better now! Thanks, Tina... So this Pareto was a person, right? Would explain why I couldn't find him in my Latin dictionary anywhere. I think this is also known as the 'Law of diminishing returns', at least that is how I learned that. Only example that now comes to my mind is stereosets ( isn't that terrible?), that you have to spend twice the money I don't have to get just a small linear increase in performance with new equipment. Hope you slept right apart from mr. Pareto bugging you! This is getting just mildly offtopic.. Signing off again, Bye Eelco
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