[Solved] The Pareto Principle is a technique used by quality managers to determine which quality control problems concerning a particular service or manufacturing process should be corrected. Which of the following statements best represents the philosophy employed by this principle?

Q.	The Pareto Principle is a technique used by quality managers to determine which quality control problems concerning a particular service or manufacturing process should be corrected. Which of the following statements best represents the philosophy employed by this principle?
A.	In order to minimize financial losses from quality control problems, all problems which have a measurable cost associated with them should be corrected
B.	The majority of defects are caused by a small percentage of the identifiable problems. Improvement efforts should be reserved for those few vital problems
C.	In order to achieve zero defects, all quality control problems, including those which do not have a direct financial cost should be corrected
D.	Generally, 80% of the quality control problems are justifiable for correction via cost benefit analysis. The remaining 20% are not financially worthy of improvement efforts
Answer» B. The majority of defects are caused by a small percentage of the identifiable problems. Improvement efforts should be reserved for those few vital problems

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