1 definition by Keion
Ask enough people to estimate something, and the average of their guesses will get you surprisingly close to the right answer.
1)Someone asks you a random question, out of 100%, 90% of the time you may not get that answer.
2)But if that same person asks an audience that same random question, out of 100% of the time when you gather everyone's data or answer 99.99% of the time it's correct. That is the explanation of the phrase "wisdom of the crowds".
2)But if that same person asks an audience that same random question, out of 100% of the time when you gather everyone's data or answer 99.99% of the time it's correct. That is the explanation of the phrase "wisdom of the crowds".
by Keion October 9, 2008