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Joined 2 years ago
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Cake day: August 8th, 2023

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  • Sounds like Francis Galtin’s Ox

    “The classic wisdom-of-the-crowds finding involves point estimation of a continuous quantity. At a 1906 country fair in Plymouth, 800 people participated in a contest to estimate the weight of a slaughtered and dressed ox. Statistician Francis Galton observed that the median guess, 1207 pounds, was accurate within 1% of the true weight of 1198 pounds.This has contributed to the insight in cognitive science that a crowd’s individual judgments can be modeled as a probability distribution of responses with the median centered near the true value of the quantity to be estimated.”