I guess I’m posting again to distract me from the fact that my wonderful wife will be out of town for a week…
Many thanks to the very entertaining and VERY knowledgeable (remember that for me learning IS entertainment) John Kraman (@CarKraman on Twitter), one of the hosts of Mecum Auto Auctions on NBCSN, for following Disaffected Musings. My handle is @RulesofLogic1 and I have tried to start the hashtags #somanycarsjustonelife and #disaffectedmusings. I have no idea if I have successfully done so, however.
All first-run episodes of the Mecum auctions are set to record on my DVR and I think have ten episodes residing there at present. As I have written before, I enjoy watching the Mecum auctions more than I enjoy watching the Barrett-Jackson auctions although as a genuine car lunatic I watch them all.
Have you ever heard of the 80/20 rule? Italian economist Vilfredo Pareto noted that 20% of Italian citizens owned 80% of the land. The 20/80 (80/20, what’s the difference?) rule has come to be known as the Pareto Principle. This rule has been found to apply to many phenomena, both of human design and not.
For example, the rule has many applications for business, such as:
Many project managers will state that 20 percent of the work consumes 80 percent of time and resources. Other examples of the principle include:
80 percent of a company’s revenues are generated by 20 percent of its customers
80 percent of complaints come from 20 percent of customers
80 percent of quality issues impact 20 percent of a company’s products
20 percent of investors provide 80 percent of funding
20 percent of employees use 80 percent of all sick days
20 percent of a blog’s posts generate 80 percent of its traffic
In the US, 20% of patients consume 80% of health care resources, which is a reason why some advocate taking the sickest people out of the main healthcare insurance pool. According to a widely reported study in New Zealand (the Dunedin Study), 80% of crimes are committed by 20% of criminals. In computer science, Microsoft noted that fixing the top 20% of the most reported bugs, 80% of the related errors and crashes in a given system would be eliminated.
Pareto is also well known for his principles of efficiency/optimality, but that theory is not the topic today. On the 1-in-1,000,000 chance that someone in the auto industry is reading, what applications of the 20/80 rule apply there? Could it be that 20% of vehicles have 80% of the defects?
What do you think about the Jaguar XJS?
From Mecum is a picture of a Jaguar XJS convertible. Three XJS cars were offered for sale at the most recent auction in Dallas. Only one sold ($6,600 all in, which means it hammered for $6,000), but all three cars were convertibles.
The XJS had the “misfortune” to follow the legendary E-Type as the Jaguar mainstay. The XJS is not a high-performance car to threaten road course records, but I think it has a great look and it’s not a slug. It was a wonderful GT car and very successful for Jaguar as about 115,000 were produced during its 21-year run. I think the XJS is one of the least respected successful cars in history.