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<blockquote data-quote="Son of Butch" data-source="post: 1416399" data-attributes="member: 14585"><p>According to James Surowiecki's 2004 book The Wisdom of Crowds: Why the many are smarter than the few</p><p></p><p>The average of the entries should yield the most correct answer including that of any so called expert.</p><p>This observation traces back to statistician Sir Francis Galton creator of the concept of correlation and regression</p><p>toward the mean. In 1907 Galton found that the average of 800 entries in a Guess the Weight of the Ox contest </p><p>at a county fair was the most correct, being closer than any 1 individual in the group or any of the so called experts.</p><p></p><p>Research at 4 separate Universities back up Galton's line of thought.</p></blockquote><p></p>
[QUOTE="Son of Butch, post: 1416399, member: 14585"] According to James Surowiecki's 2004 book The Wisdom of Crowds: Why the many are smarter than the few The average of the entries should yield the most correct answer including that of any so called expert. This observation traces back to statistician Sir Francis Galton creator of the concept of correlation and regression toward the mean. In 1907 Galton found that the average of 800 entries in a Guess the Weight of the Ox contest at a county fair was the most correct, being closer than any 1 individual in the group or any of the so called experts. Research at 4 separate Universities back up Galton's line of thought. [/QUOTE]
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