Dan Kuida

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Averaging is mathematically guaranteed to reduce noise: specifically, it divides it by the square root of the number of judgments averaged. This means that if you average one hundred judgments, you will reduce noise by 90%, and if you average four hundred judgments, you will reduce it by 95%—essentially eliminating it. This statistical law is the engine of the wisdom-of-crowds approach, discussed in chapter 7.
Noise: A Flaw in Human Judgment
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