TIL about the “wisdom of the crowds” which argues that the accuracy of a group is far greater than the individual. This was originally demonstrated at a county fair where individuals guessed the weight of an ox – they were all wrong. Their collective average, however, was astonishing close.

Read more: https://en.wikipedia.org/wiki/The_Wisdom_of_Crowds

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  1. If you’ve ever watched “Who Wants to be a Millionaire”, one of the life lines is you can ask the audience to vote on what the right answer is, and the audience is almost always right

    > After 15 years of the show, the ‘ask the audience’ success rate is between 91% and 92%, compared to a 66% success rate for the ‘phone a friend’ lifeline where the contestant can phone someone they know for advice. In the US the host of the show claimed a 95% success rate for ‘ask the audience’.
    http://www.freestak.com/blogposts/who-wants-to-ask-the-audience-the-benefits-and-pitfalls-of-social-media/

  2. Well no shit lol, if you get a big enough group of people logically guessing something then of course the groups average would be close, it’s not like people will guess crazily different numbers

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