State calls Bloomy bluff, gloms OTB; Takeout up 1%

[Kasept]

Originally Posted by ateamstupid

*head explodes*

The 80-20 rule.. A statistical imperative.

80% of all handle is generated from 20% of the horseplaying populace.

[the_fat_man]

Makes a lot easier then, in principle, to ORGANIZE and do something about it.

[DogsUp]

Originally Posted by Kasept

The 80-20 rule.. A statistical imperative.

80% of all handle is generated from 20% of the horseplaying populace.

I am sure this varies greatly from weekdays to weekends. Would I be way off to think that 90% of the handle is generated from the horse playing populace throughout the week?

[ateamstupid]

Originally Posted by Kasept

The 80-20 rule.. A statistical imperative.

80% of all handle is generated from 20% of the horseplaying populace.

I understand the second part, but I don't think that's the 80-20 rule.

[ShadowRoll]

Originally Posted by ateamstupid

I understand the second part, but I don't think that's the 80-20 rule.

http://management.about.com/cs/gener...reto081202.htm

[Scav]

Originally Posted by ateamstupid

I understand the second part, but I don't think that's the 80-20 rule.

the 80/20 rule is a marketing/business statement. It is common that 80% of your business comes from 20% of your customer base, meaning the other 80% of your customer base only contributes 20%....see below

Lets say you have this business and for year 2007 your gross revenue was $1,000.

Person A = $525
Person B = $275
Person C = $50
Person D = $25
Person E = $25
Person F = $10
Person G = $10
Person H = $40
Person I = $20
Person J = $20

As you will see, 20% of the customer (Person A and Person B) contributed to 80% ($800) of the revenue....

[ateamstupid]

Thanks guys. I'm not a business whiz.