Asked by Nicholas Paradas on Jun 11, 2024

verifed

Verified

Groups of people tend to outperform individuals on estimation problems.

Estimation Problems

Challenges that arise when attempting to approximate or predict a value, quantity, or outcome with incomplete information.

  • Identify the benefits of collective decision-making compared to solo decision-making.
verifed

Verified Answer

JD
justin diderJun 16, 2024
Final Answer :
True
Explanation :
Studies and research have shown that groups of people tend to outperform individuals on estimation problems, as the group members can combine their knowledge and expertise to come up with a more accurate estimate. This phenomenon is known as the "wisdom of crowds."