The 80/20 Rule

The 80/20 Rule. I still don’t understand the term completely, however when it is put with statistics I start to know it a bit better. I took some notes from this reading, that I thought are important and will put them up, because I’m not too sure what to say about this reading, just that there were a lot of examples and the explanations to me, were not clear enough.

To begin:
-The 80/20 Rule does not apply to everything and it would be a gross overstatement if it was inferred.
-The features that will be covered soon play a key role in understanding complex networks well.
-Webpages are connected to each other randomly.

POWER LAWS:
-Does not have a peak
-Each one is characterised by a unique exponent. An example the reading gives is “How many popular webpages are out there relative to the less popular ones?”
-Exponent is called the degree exponent.
-This reading states, “Our measurement indicated that the distribution of incoming links on Webpages followed a power law with a unique and well-defined degree exponent.
-Millions of Webpage creators work together in a way that generates a complex web that defies the random universe.
-Power laws mathematically formulate the fact that in most real networks the majority of nodes have only a few links and that these numerous tiny nodes coexist with a few big hubs, nodes with an anomalously high number of links. – This function is the reasons that keep networks from falling apart.
-Every time the 80/20 rule applies, there will be a power law behind it.
-There is no intrinsic scale in these networks.
-Power Laws formulate in mathematical terms the notion that a few large events carry most of the action.

These notes were taken from the reading ‘The Sixth Link’.

 

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