British Polymath Sir Francis Galton’s Wisdom of the Crowd Concept Within Mathematics, Tools Used Throughout History to Predict the Future, Italian Mathematician Gerolamo Cardano’s Law of Large Numbers, Modern Day Casinos Leveraging the Law of Large Numbers to Generate Profits, French Mathematician Blaise Pascal and French Mathematician Pierre de Fermat Developing Probability Theory, the High Accuracy Measurements of Weather Balloons, Numerical Ensemble Forecasting, British Biologist Ronald Aylmer Fisher Experimenting to Study Statistical Analysis Which Became Part of the Scientific Method, the Concept of Probability Value (P-Value), Corruption of Data Within Science, How the Scientific Community Deals With Corruption of Data, the Concept of a Sample Accurately Representing the Whole, the Number of People Needed to Ascertain an Accurate Opinion, and Leveraging Bayesian Inference to Calculate Probabilities Based Upon New Information Made Available

In 1906, Sir Francis Galton came across a contest at a local fair, in which participants were required to guess the weight of an ox. After the competition was over, Galton brought the entry ballets back to his home and found that while no single guess was correct, the average of the entire lot of guesses was off by less than 1%. This phenomena is referred to as the “wisdom of the crowd”, accurate measurements and statistics not bestowed upon any one person, but across large swaths of groups of p...

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