September 2013
Beginner
320 pages
6h 20m
English
Content preview from 101 Business Ideas That Will Change the Way You Work
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IDEA #43
To decide alone is to make a bad decision
The best decision-makers are those who actively canvass and act upon a diverse array of opinions and views.
What you need to know
In 1906, the 84-year-old great Victorian statistician Sir Francis Galton visited the annual West of England Fat Stock and Poultry Exhibition. At the exhibition, Galton came across an ox weight-judging competition. Paying sixpence eight each, 800 people entered the competition, many of whom Galton observed as being ‘non-experts’. Galton collected all the responses from the organisers and ran some statistical tests. Taking the median of all the estimates, the ...
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